NMRC Lists N11.5bn 10-Year Bond On FMDQ

Nigeria Mortgage Refinance Company Plc (NMRC) has listed its N11.50bn 10-year 17.25 per cent Series 1 Fixed Rate Bond on FMDQ Securities Exchange Limited.

The bond issuance, listed under NMRC’s N440bn Medium Term Note Programme, is expected to strengthen the company’s refinancing operations, improve liquidity for mortgage lenders, and support affordable housing delivery across the country.

FMDQ Exchange, said the transaction underscored the growing capacity of the Nigerian debt market to mobilise long-term capital for critical sectors of the economy, particularly housing finance.

NMRC, a mortgage refinancing institution licensed by the Central Bank of Nigeria, was established in 2013 to provide long-term funding to primary mortgage lenders and promote home ownership in Nigeria.

Since commencing operations in 2014, the company has served as a liquidity facility for the mortgage sector, helping lenders access stable funding for housing loans.

According to the Exchange, proceeds from the bond issuance will be deployed to expand NMRC’s refinancing activities, strengthen its lending support to mortgage institutions, and advance the Federal Government’s housing accessibility and affordability agenda.

The transaction was sponsored by Stanbic IBTC Capital Limited⁠�, which acted as Sole Issuing House and Bookrunner for the issuance.

Commenting on the successful listing, the Managing Director of Nigeria Mortgage Refinance Company Plc, Kehinde Ogundimu, said the strong investor response to the bond reflected confidence in NMRC’s business model and its role in Nigeria’s housing finance ecosystem.

He noted that the successful execution of the transaction would enable the company to deepen support for mortgage lenders through access to long-term funding while advancing affordable housing finance in the country.

Also speaking, the Chief Executive of Stanbic IBTC Capital Limited, Oladele Sotubo, described the bond issuance as evidence of strong investor appetite for quality fixed-income instruments in the Nigerian debt market.

According to him, the oversubscription recorded by the offer highlighted investor confidence in well-structured credit instruments and reinforced the growing attractiveness of long-term securities in the market.

He added that the successful issuance aligned with Stanbic IBTC Capital’s commitment to supporting issuers in accessing innovative long-term financing solutions.

In her remarks, the Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, said the listing demonstrated the importance of long-tenor fixed-income securities in mobilising capital for sectors critical to national development.

She stated that housing finance remained central to inclusive economic growth and noted that NMRC’s presence on the Exchange further reinforced FMDQ’s commitment to providing a transparent and efficient marketplace that connects issuers with investors while supporting sustainable economic development.

Market analysts said the successful bond listing is expected to further boost confidence in Nigeria’s debt capital market and improve access to long-term financing for the housing sector, which continues to face significant funding gaps despite rising demand for affordable homes.