UACN lists N54.03bn bond on NGX, reinforcing multi-asset market depth

UAC of Nigeria Plc has listed its N54.03 billion Series 1 bond on Nigerian Exchange Limited (NGX), 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 April 17, 2026, carries a fixed coupon of 17.35 percent and was issued under UACN’s N150 billion multi-instrument programme.

Priced at par with 54.03 million units at N1,000 each, the bond will mature on December 15, 2032. Investors will receive semi-annual coupon payments on June 15 and December 15 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.

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Commenting on the listing, David Adonri, Vice Chairman of Highcap Securities Ltd, 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.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.