UACN LISTS N54.03BN SERIES 1 BOND ON NIGERIAN EXCHANGE, SECURES LONG-TERM CAPITAL
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By: Muftau Fatimo
UAC of Nigeria Plc has listed its N54.03 billion Series 1 bond on Nigerian Exchange Limited, reinforcing the Exchange’s position as a multi-asset platform while enabling the company to secure long-term funding.
The seven-year senior unsecured bond, which was admitted for trading on April 17, 2026, carries a fixed interest rate of 17.35 per cent and was issued under UACN’s N150 billion multi-instrument programme.
Issued at par, the offer comprises 54.03 million units priced at N1,000 each, with a maturity date of December 15, 2032. Investors are to receive coupon payments twice yearly, scheduled for June 15 and December 15 throughout the duration of the bond. The subscription closed in December 2025.
The bond structure includes a four-year grace period on principal repayment, after which amortisation will begin. It also provides the issuer with the option of early redemption.
Commenting on the listing, Vice Chairman of Highcap Securities Ltd, David Adonri, said, “What stands out is the continued ability of issuers like UAC of Nigeria Plc to access long-term funding.
This reflects both the depth of the domestic debt market and the growing relevance of NGX as a credible platform for capital raising across asset classes.”
The transaction was jointly arranged by Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital & Investments Limited, and FCMB Capital Markets Limited, with Chapel Hill Denham Securities Limited acting as stockbroker. Stanbic IBTC Trustees Limited served as trustee, while Africa Prudential Plc was appointed registrar.
This listing highlights NGX’s continued evolution beyond equities, strengthening its fixed income segment and further reflecting its profile as a more diversified, multi-asset marketplace.
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