UACN lists N54.03bn bond on NGX

UAC of Nigeria Plc has listed its N54.03bn Series 1 bond on Nigerian Exchange Limited, underscoring the Exchange’s growing profile as a multi-asset platform and providing the company with access to long-term capital.

The seven-year senior unsecured instrument, admitted to trading on 17 April 2026, carries a fixed coupon of 17.35 per cent and was issued under UACN’s N150bn multi-instrument programme.

Priced at par with 54.03 million units at N1,000 each, the bond will mature on 15 December 2032. Similarly, investors will receive semi-annual coupon payments on 15 June and 15 December throughout the tenor. The offer closed in December 2025.

The structure features a four-year moratorium on principal repayment, after which amortisation will commence, with an option for early redemption at the issuer’s discretion.

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.