Interswitch Limited has assigned FBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc, as the lead issuing house for the listing of the its N23billion bond on the Nigerian Stock Exchange (NSE).
As Joint Lead Issuing house/book runner, FBNQuest advised on the transaction structure and marketing strategy for the bonds including market timing, investor road show (in Lagos and Abuja) and crafting an appropriate credit story for the client.
The bonds were successfully distributed to a diversified mix of investors which included Pension Fund Administrators (PFAs), Banks, Asset Managers and Others.
The final order book was N51billion out of which a total of N23 billion bids were accepted meaning the offer was 222 per cent subscribed.
The success of the transaction with an order book of 222 per cent is a testament to the leading role of the company in the technology and payment processing space where they have consistently led innovation and product development. FBNQuest is proud to have led this milestone transaction.