AG Mortgage Bank Raises N3.97bn in Successful CP Issuance

AG Mortgage Bank Plc raised N3.97 billion through its Series 2 and 3 Commercial Paper (CP) issuance, achieving 100% subscription. The issuance, part of a registered N5 billion CP Programme, opened on June 10 and closed on June 18.

The Series 2 and 3 notes have tenors of 270 days and 364 days, with gross implied yields between 22.5% and 24%. FSDH Capital Limited acted as Lead Arranger, while Pathway Advisors Limited, AIICO Capital Limited, and ARM Capital Limited served as Joint Arrangers.

The proceeds will be used for short-term working capital and funding requirements, bolstering the bank's mortgage financing activities. Ngozi Anyogu, Managing Director and CEO of AG Mortgage Bank, stated that the full subscription reflects investor confidence in the bank's governance and long-term vision.

The successful issuance follows improved financial performance in 2025, with interest income rising 28.1% to N3.65 billion and profit after tax increasing by 130% to N1.05 billion. Established in 2004, AG Mortgage Bank is licensed by the Central Bank of Nigeria and participates in various government-backed housing initiatives.