Invest Data Consulting Ltd

In its first intervention in the inter-bank foreign market for the month, the Central Bank of Nigeria (CBN) on Friday, November 2, 2018, injected a total of $337.16m into the retail Secondary Market Intervention Sales (SMIS), in addition to CNY 56.17m in the spot and short tenored forwards segment. According to the CBN’s Director, Corporate Communications, Isaac Okorafor, the intervention was to meet requests in the agricultural and raw materials sectors. The Chinese Yuan, on the other hand, was for Renminbi denominated Letters of Credit. Okorafor said the market continue to enjoy stability, due to the regular interventions, which he said have guaranteed a stable exchange rate for the Naira. Continuing, he assured that the apex bank’s management remains committed to ensuring that all sectors of the forex market continue to enjoy access to the needed foreign exchange. The CBN had on Tuesday, October 30, 2018 intervened in the wholesale segment of the inter-bank Foreign Excha...

The board of FBN Holdings Plc, on Friday said First Bank of Nigeria Limited, its largest subsidiary, plans to exercise its option to call the $300m 8.25% subordinated notes raised from the international debt markets before the due date of August 2020. In the notice dated July 6, 2018, signed by Seye Kosoko, its company secretary, the FBN Holdings said FirstBank, seeks to call and pre-pay holders of the note at the next callable date of August 7, 2018. The bank, he said, took the decision as a liquidity management exercise, just as it demonstrates the strength of FirstBank’s foreign currency liquidity and robust capital base, while further enhancing the efficiency of the balance sheet. The notes are held by FBN Finance Company B.V and will exercise its option to call the $300m notes. The bank had in August 2003 issued a $300 m Eurobond following an investor roadshow in the UK and US as it sought to tap the global capital markets for a seven-year callable subordinated instr...

The Nigerian Stock Exchange (NSE) witnessed heavy trading in the shares of financial services supermarket- FBN Holdings as investors crossed a total of 400,000,632 units, representing 1.11% of its shares outstanding at N12.50 each in two deals. Investdata News learnt that the off-market trade worth N5bn was executed via negotiated deals between Cordros Securities Limited (buyer) and Fundvine Capital & Securities Limited (seller). This brought total volume of FBN Holdings traded for the day to 425.603m units in 378 deals. This brought total transaction volume for the day to 831.388m units worth N10.568bn, exchanged in 5,651 deals. The Financial Services sector accounted for 76% of total volume traded, which represented 74% by value, followed by the Oil and Gas sector’s 16.00% of volume traded and 1.79% of value, among others. http://investdata.com.ng/2018/03/investors-cross-400m-units-fbn-holdings-off-market-trade-n5bn/