FMDQ Exchange Approves UAC Nigeria's N54.03bn 7-Year Bond Issuance
FMDQ Securities Exchange Limited has granted approval for UAC Nigeria Plc to list its N54.03 billion Series 1 7-year 17.35% fixed-rate bond under a N150.00 billion issuance program. UAC's Group Finance Director, Mr. Funk Ijaiya Oladipo, expressed satisfaction with the successful completion of the landmark bond issuance, highlighting its importance in strengthening the company's financial position and supporting its strategic initiatives, including the integration of the recently acquired Chi Limited.
Stanbic IBTC Capital Limited, the lead issuing house, commended UAC for the successful bond issuance, emphasizing its commitment to facilitating high-quality issuers' access to the Nigerian debt capital market. The issuance reflects UAC Nigeria's diversified business portfolio and ambitious growth strategy, positioning the company for accelerated growth.
The collaboration between UAC and Stanbic IBTC Capital underscores the confidence in UAC's management and strategic direction.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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