UAC Nigeria Plc Lists N54.03bn Bond on NGX

UAC Nigeria Plc has successfully listed a N54.03 billion Series 1 bond on the Nigerian Exchange (NGX), which is part of its N150 billion multi-instrument programme. The bond is a seven-year senior unsecured instrument that will mature on December 15, 2032, and carries a fixed coupon rate of 17.35%.

Investors will receive semi-annual coupon payments on June 15 and December 15 throughout the tenor of the bond, which is set to close in December 2025. The structure includes a four-year moratorium on principal repayment, with amortization commencing thereafter and an option for early redemption at the issuer's discretion.

David Adonri, Vice Chairman of Highcap Securities Ltd, commented on UAC Nigeria Plc's ability to access long-term funding, reflecting the depth of the domestic debt market and the growing relevance of NGX as a credible platform for capital raising across asset classes. The bond transaction was jointly arranged by Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital Investment Limited, and FCMB Capital Market Limited, with Stanbic IBTC Trustees Limited serving as the trustee and Africa Prudential Plc appointed as the registrar.