UACN lists N54.03bn bond on NGX

The Nigerian Exchange Limited (NGX) continues to solidify its position as a premier multi-asset platform with the successful listing of UAC of Nigeria Plc's N54.03 billion Series 1 bond. This significant transaction underscores the growing confidence in the Nigerian debt market and its capacity to facilitate substantial long-term capital raising for major corporations.

The seven-year senior unsecured instrument, carrying a competitive fixed coupon of 17.35 percent, is a testament to the robust financial engineering and investor appetite within the domestic market. The bond's issuance under UACN's N150 billion multi-instrument program further illustrates the company's strategic approach to financing its operations and growth.

As David Adonri, Vice Chairman of Highcap Securities Ltd, aptly noted, the ability of issuers like UACN to access such long-term funding is a clear indicator of both the market's depth and the NGX's increasing relevance. This listing is not just a win for UACN but also a positive signal for the broader Nigerian capital market, showcasing its evolution beyond equities into a diversified marketplace capable of meeting diverse financial needs.

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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.