Mortgage Warehouse Funding Limited Registers N20.00bn CP Programme On FMDQ.

Hearty congratulations to the team at Dunn Loren Merrifield Advisory Partners Limited, G.Elias, Olaniwan Ajayi and our capital market team led by Ms. Elisabet Ekpenyong and Mrs. Tosin Kalegha on the registration of MWFL’s N20 Billion CP Programme on FMDQ. Mortgage Warehouse Funding Limited (“MWFL”) is a special purpose company whose objective is to provide short-term, economically viable funding to its Member Mortgage Banks (MMBs) across Nigeria. The activities of MWFL are aimed at complementing those of the Nigerian Mortgage Refinance Company (NMRC), such that whilst NMRC is licenced to match funding and provide liquidity to the mortgage sector via long-term secondary market refinancing, MWFL will provide short-term and interim funding for mortgage origination financing through the issuance of high quality investment grade rated senior and subordinated commercial paper notes. This short-term finance will enable MMBs to expand their origination capacity and ultimately enable them to run their businesses more efficiently and profitably, whilst ensuring the steady growth of the mortgage subsector in the Nigerian housing sector. With this CP Programme registration, MWFL can raise short-term finance from the debt capital markets, within the Programme limit, to support its business operations as at when required in the future. Series from this CP programme will be quoted on FMDQ.