UACN lists N54 billionbond on FMDQ Exchange

UAC of Nigeria Plc has listed its N54.03 billion Series 1 7-Year 17.35 per cent Fixed Rate Bond on FMDQ Securities Exchange Limited.

The bond was issued under UACN’s N150 billion issuance programme.

Group Finance Director, UAC of Nigeria (UACN Plc, Mrs Funke Ijaiya-Oladipo said the conglomerate was pleased to have successfully completed the landmark bond issuance.

She said the strong outcome of the transaction was a testament to the group’s sound business fundamentals, the resilience of its brands, and the confidence the market continues to place in it.

“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,” Ijaiya-Oladipo said.

Sponsor of the bond listing on FMDQ Exchange, Stanbic IBTC Capital Limited, through its Chief Executive, Mr Oladele Sotubo, said Stanbic IBTC Capital was delighted to have served as Lead Issuing House to UACN on the successful bond issuance.

He said: “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.”

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

UACN, 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. 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.

FMDQ Exchange reiterated its commitment to transforming the Nigerian capital markets by providing a world-class, technology-enabled platform that aligns with international standards.

The Exchange stated that through its commitment to transparency, regulatory excellence, and market integrity, it empowers corporate issuers with seamless access to capital, driving industrial growth, job creation, and broad-based economic progress.

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