Image Credit: FSDH Research
February 8, 2022/FSDH Research
The N20 Billion Series 1 & 2 Commercial Paper (“CP”) offer under the Nova Merchant Bank Limited (“NOVA MBL” or the “Bank”) N50 Billion CP Programme is Now Open.
Nova Merchant Bank Limited (“Nova MB” or the “Bank”) is a licensed merchant bank in Nigeria incorporated on 17 May 2017 and commenced operations on 01 February 2018 with a focus on Investment and Wholesale banking. It is privately owned by Nigerian and foreign institutional investors who have distinguished themselves in areas such as financial services and the real sector over several decades.
The Bank intends to use the proceeds from the CP issuance to fund short-term working capital requirements and general corporate purposes.
Please find below a summary of the indicative terms of the offer:
For more information, please refer to this LINK to access the documents listed below:
- Programme Memorandum
- Series 1 Red Herring Pricing Supplement
- Series 2 Red Herring Pricing Supplement
- Series 1 Commitment Form
- Series 2 Commitment Form
- Nova MBL December 2021 Management Accounts
- Agusto & Co. Rating Report
- GCR Rating Announcement
- 2022 PENCOM Compliance Certificate
