UAC of Nigeria Plc has listed its N54.03 billion Collection 1, 7-year, 17.35% Fastened Charge Bond on the FMDQ Securities Trade because it seeks to deepen entry to long-term funding from Nigeria’s debt capital market.
The itemizing was disclosed by FMDQ Securities Trade in an emailed launch on Friday, following approval by its Board Listings and Markets Committee.
The bond, issued underneath UAC’s N150 billion Debt Issuance Programme, comes because the conglomerate begins the combination of its newly acquired subsidiary, C.H.I. Restricted, and assessments investor confidence in its long-term progress technique.
In line with the discharge, proceeds from the bond might be strategically deployed throughout UAC’s numerous enterprise chains, which span meals and drinks, actual property, logistics, and quick-service eating places.
The corporate mentioned the funding might be utilized towards refinancing current obligations, supporting capital expenditure, and strengthening working capital to enhance operational effectivity and develop capability.
The corporate additionally famous that the bond enhances stability sheet flexibility because it integrates and grows CHI Restricted, positioning the group to unlock synergies inside its fast-moving client items operations.
The N54.03 billion bond was sponsored by Stanbic IBTC Capital Restricted as Lead Sponsor, alongside Chapel Hill Denham Advisory Restricted, FCMB Capital Markets Restricted, and Quantum Zenith Capital & Investments Restricted as Co-Sponsors, all of that are FMDQ Registration Members (Listings).
FMDQ Trade mentioned the itemizing aligns with its mandate to deepen Nigeria’s capital markets by means of long-term capital formation.
For FMDQ, the transaction helps broader aims round industrial progress, job creation, and sustainable {economic} growth by offering issuers with a technology-driven platform for accessing long-dated capital.
UAC of Nigeria Plc not too long ago simplified its company construction by consolidating its acquisition particular goal automobile, UAC Meals and Beverage Firm Restricted, into C.H.I. Restricted following the completion of the beverage firm’s acquisition.
The corporate clarified that UAC Meals and Beverage Firm Restricted was a non-operating particular goal automobile, and that the consolidation was aimed toward streamlining governance, lowering administrative layers, and enhancing {financial} reporting readability.
Collectively, the consolidation and bond issuance place UAC to unlock synergies inside its FMCG portfolio, significantly by means of C.H.I. Restricted, whereas aligning its funding profile with long-term progress aims.
