In a significant development for Nigeria’s debt capital market, FMDQ Securities Exchange Limited has approved the listing of UAC of Nigeria PLC’s ₦54.03 billion Series 1, 7-Year 17.35 per cent Fixed Rate Bond under the company’s ₦150 billion issuance programme.
The approval, granted by the Exchange’s Board Listings and Markets Committee, reinforces FMDQ Exchange’s strategic role in deepening the nation’s capital market architecture and providing corporate issuers with transparent, well-regulated access to long-term financing required for sustainable growth.
UAC of Nigeria PLC, a diversified conglomerate with more than a century of operations across critical sectors—including food and beverages, real estate, logistics, and quick-service restaurants—will deploy proceeds from the bond to refinance existing obligations, fund capital expenditure initiatives, and strengthen working capital. The funding is also expected to enhance operational efficiency and support expansion across the Group’s business portfolio.
The transaction was sponsored by a consortium of leading financial institutions: Stanbic IBTC Capital Limited as Lead Sponsor, alongside Chapel Hill Denham Advisory Limited, FCMB Capital Markets Limited, and Quantum Zenith Capital & Investments Limited as Co-Sponsors—all Registration Members (Listings) of FMDQ Exchange. Their involvement underscores strong institutional confidence in the issuer’s fundamentals and the broader resilience of Nigeria’s corporate debt market.
Reacting to the successful listing, UACN’s Group Finance Director, Mrs. Funke Ijaiya-Oladipo, described the issuance as a landmark milestone that demonstrates investor confidence in the company’s strategy and long-term outlook.
She noted that the bond broadens the Group’s funding base and strengthens its ability to execute strategic priorities, including the integration and growth of CHI Limited following UACN’s recent acquisition.
According to her, sustained investor support and the commitment of transaction advisers were instrumental in achieving a successful outcome.
Also commenting, Mr. Oladele Sotubo, Chief Executive of Stanbic IBTC Capital Limited, said the firm was pleased to serve as Lead Issuing House on the transaction. He emphasised that enabling high-quality issuers to access Nigeria’s debt capital market remains central to Stanbic IBTC Capital’s investment banking mandate.
Sotubo highlighted UACN’s long-standing corporate heritage and evolving growth strategy—particularly the CHI Limited acquisition—as indicators of the transaction’s strategic importance. He added that the bond issuance provides the company with an opportunity to diversify funding sources, optimise its capital structure, and accelerate expansion across its fast-moving consumer goods and allied businesses.
FMDQ Exchange continues to position itself as a catalyst for capital formation and market transparency by providing a technology-driven platform aligned with global best practices. Through robust regulation, disclosure standards, and investor-protection mechanisms, the Exchange supports industrial development, job creation, and inclusive economic progress across Nigeria.
At the broader ecosystem level, FMDQ Group PLC remains Africa’s first vertically integrated financial market infrastructure group, offering listing, trading, clearing, settlement, depository, and data services across debt, derivatives, and equity markets through its subsidiaries—FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited, and FMDQ Private Markets Limited.
As part of its sustainability commitment, the Group also operates FMDQ Green Exchange, Africa’s leading platform dedicated to promoting environmentally sustainable finance and accelerating the continent’s transition toward a low-carbon future.
UAC of Nigeria PLC lists a ₦54.03 billion 7-year bond on FMDQ Exchange to refinance debt, fund expansion, and strengthen long-term capital access, reinforcing confidence in Nigeria’s debt capital market.
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