UAC Lists N54.03bn Bond On FMDQ Exchange

FMDQ Securities Exchange Limited has approved the listing of UAC of Nigeria Plc’s N54.03 billion bond on its platform.

The Bond is the Company’s Series One 7-year 17.35 per cent Fixed Rate Bond under its N150.00 billion Issuance Programme.

This approval, granted by the Exchange’s Board Listings and Markets Committee, underscores the Exchange’s pivotal role in enabling corporate entities to access long-term capital through transparent and well-regulated debt instruments.

The proceeds from the bond issuance, sponsored by a consortium of reputable firms including Stanbic IBTC Capital Limited (lead sponsor), Chapel Hill Denham Advisory Limited, FCMB Capital Markets Limited, and Quantum Zenith Capital & Investments Limited (Co-Sponsors), all registration members (listings) of FMDQ Exchange, will be strategically allocated to refinance existing obligations, fund capital expenditure programmes, and strengthen the Issuer’s working capital, thereby enhancing operational efficiency and expanding capacity across UACN’s diverse business verticals.

Speaking on the bond listing, the group finance director, UACN,  Funke Ijaiya-Oladipo stated, that the bond issuance broadens the funding base and better positions the Company to advance its strategic initiatives.

“UACN is pleased to have successfully completed this landmark bond issuance in the Nigerian debt capital markets. The strong outcome of this transaction is a testament to our sound business fundamentals, the resilience of our brands, and the market’s continued confidence in us.

“This issuance broadens our funding base and better positions the Company to advance its strategic initiatives, including the integration and growth of CHI Limited following our recent acquisition. We appreciate the unwavering support of the investor community and the dedication of our advisers throughout this process.”

The chief executive of Stanbic IBTC Capital Limited, Oladele Sotubo said, UACN’s distinguished heritage and ambitious strategic direction, including the acquisition of CHI Limited to further strengthen its FMCG portfolio, highlight the significance of this transaction.

“Stanbic IBTC Capital is delighted to have served as lead issuing house to UACN on this successful bond issuance. As Nigeria’s foremost investment banking franchise, we remain steadfast in our commitment to enabling high-quality issuers to access the Nigerian debt capital markets.”

“This issuance provides UACN with a valuable opportunity to diversify its funding mix, optimise its capital structure, and accelerate its growth trajectory. Together with the Joint Issuing Houses, we appreciate the trust and confidence reposed in us by the Board and Management of UACN to guide this transaction to a successful completion.”