AG Mortgage Bank Plc has successfully strengthened its liquidity after securing a 100 percent subscription for its Series 2 and 3 Commercial Paper issuance, totaling N3.97 billion. This achievement provides the bank with essential short-term capital to expand its mortgage lending services and move forward with various real estate projects. The total amount raised accounts for the majority of the firm’s N5 billion approved commercial paper program.
The offering ran from June 10 through June 18, featuring notes with tenors of 270 and 364 days. These instruments carry gross implied yields ranging from 22.5 percent to 24 percent. FSDH Capital Limited served as the lead arranger, supported by joint arrangers including Pathway Advisors Limited, AIICO Capital Limited, and ARM Capital Limited.
Managing Director and CEO of AG Mortgage Bank, Mr. Ngozi Anyogu, noted that the full subscription highlights investor trust in the bank’s governance and its goal of increasing housing finance accessibility. He emphasized that the funds will bolster the bank’s liquidity and facilitate the provision of affordable housing solutions across Nigeria, reaffirming the organization’s dedication to creating value for stakeholders.
