The value of outstanding corporate bonds listed on the FMDQ Securities Exchange (FMDQ) rose Year-on-Year (YoY) by 50.9 percent to N1.498 trillion in February 2023 from N993.57 billion in the corresponding period in 2022.
FMDQ’s Monthly Financial Market Report for February also showed that the figure rose Month-on-Month (MoM) by 6.94 percent from N1.401 trillion recorded in January.
A breakdown of listings in the corporate bonds space showed that the total value of corporate bonds issued and listed on the FMDQ Exchange in February 2023 alone stood at N115 billion, bucking the trend in the last two months (December 2022 and January 2023) when there were no listings on the Exchange.
Mr David Adonri, Vice Chairman, Highcap Securities, explained that the rise in corporate bonds listing in February 2023 may be due to listing by the introduction of bonds that were issued by previously unlisted companies.
Meanwhile, the value of sovereign securities (T-Bills and FGN Bonds) worth N1.034 trillion were issued in February 2023, up by 10 percent from N940.09 billion issued in January 2023.
