UAC of Nigeria Plc has successfully listed its N54.03 billion Series 1 bond on the Nigerian Exchange Limited (NGX), further solidifying the exchange’s position as a diversified multi-asset platform while granting the manufacturing conglomerate access to long-term capital.
The seven-year senior unsecured debt instrument was admitted to trading on April 17, 2026, and carries a fixed coupon rate of 17.35%. Issued under UACN’s N150 billion multi-instrument borrowing programme, the bond is priced at par, comprising 54.03 million units at N1,000 each. It is scheduled to mature on December 15, 2032.
Investors in the bond will receive semi-annual coupon payments on June 15 and December 15 throughout the tenor. The offer initially closed to subscribers in December 2025.
The bond structure includes a four-year moratorium on principal repayment, after which amortization will begin. The issuer also retains an option for early redemption at its discretion.
Commenting on the listing, David Adonri, Vice Chairman of Highcap Securities Ltd, noted the significance of the transaction. “What stands out is the continued ability of issuers like UAC of Nigeria Plc to access long-term funding,” he said. “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 a consortium of financial institutions, including 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.
The listing marks another step in NGX’s evolution beyond equities, reinforcing its fixed income segment and its broader transformation into a more diversified, multi-asset marketplace capable of accommodating various classes of securities.
