UAC of Nigeria Plc has listed its N54.03 billion Series 1 bond on Nigerian Exchange Limited, strengthening its access to long-term capital while highlighting the expanding depth of Nigeria’s fixed income market.
The seven-year senior unsecured instrument, admitted to trading on April 17, 2026, carries a fixed interest rate of 17.35 per cent and was issued under the company’s N150 billion multi-instrument programme.
The bond, priced at par, comprises 54.03 million units at N1,000 each and is set to mature on December 15, 2032. Investors are expected to receive semi-annual coupon payments on June 15 and December 15 throughout the tenor. The offer was completed in December 2025.
As part of its structure, the instrument features a four-year moratorium on principal repayment, after which amortisation will begin. It also includes a provision allowing the issuer to exercise early redemption, subject to prevailing conditions.
The listing is seen as a strong signal of sustained investor appetite for corporate debt instruments and the ability of established firms to leverage the domestic capital market for funding.
Vice Chairman of Highcap Securities Limited, David Adonri, said the development reflects the resilience and maturity of the local debt market.
He noted that issuers’ continued access to long-term financing underscores growing confidence in the market and the evolving role of NGX as a credible platform for capital mobilisation 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.
Chapel Hill Denham Securities Limited acted as stockbroker, while Stanbic IBTC Trustees Limited served as trustee. Africa Prudential Plc was appointed as registrar.
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