FMDQ Exchange Admits UAC’s N54.03bn 7-Year Fixed Rate Bond

Kayode Tokede

FMDQ Securities Exchange Limited revealed that it has approved the listing of UAC of Nigeria Plc’s N54.03 billion Series 1 7-Year 17.35% Fixed Rate Bond under its N150.00 billion Issuance Programme.

The 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.

Reacting to the bond listing, the Group Finance Director, UACN, Mrs Funke Ijaiya-Oladipo in a statement stated that, “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 confidence the market continues to place 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.”

Commenting on the transaction, the Sponsor of the bond listing on FMDQ Exchange, Stanbic IBTC Capital Limited, through its Chief Executive, Mr Oladele Sotubo, commented “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 access the Nigerian debt capital markets. 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.

“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.”

UAC of Nigeria, a diversified conglomerate with a century-long heritage, operates in key sectors of the Nigerian economy, including food and beverages, real estate, logistics, and quick-service restaurants.