UACN Lists N54.03 Billion Bond on Nigerian Exchange, Enhancing Multi-Asset Platform
UAC of Nigeria Plc has successfully listed its N54.03 billion Series 1 bond on the Nigerian Exchange Limited (NGX), marking a significant milestone in the Exchange's development as a multi-asset platform. This move provides the company with access to long-term capital, underscoring the growing depth and credibility of Nigeria's domestic debt market.
Bond Details and Structure
The seven-year senior unsecured bond was admitted to trading on April 17, 2026, carrying a fixed coupon rate of 17.35 percent. It was issued under UACN's N150 billion multi-instrument programme, with the offer having closed in December 2025. Priced at par, the bond consists of 54.03 million units at N1,000 each, and it is set to mature on December 15, 2032.
Investors will benefit from semi-annual coupon payments scheduled for June 15 and December 15 throughout the tenor. The bond structure includes a four-year moratorium on principal repayment, after which amortisation will commence. Additionally, there is an option for early redemption at the issuer's discretion, providing flexibility in financial management.
Market and Expert Commentary
Commenting on the listing, David Adonri, Vice Chairman of Highcap Securities Ltd, highlighted the significance of this development. "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," he stated.
The transaction was jointly arranged by a consortium of financial institutions, including Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital and Investments Limited, and FCMB Capital Markets Limited. Chapel Hill Denham Securities Limited acted as the stockbroker, while Stanbic IBTC Trustees Limited served as trustee, and Africa Prudential Plc was appointed registrar.
NGX's Evolution and Equities Market Performance
This listing emphasizes NGX's ongoing evolution beyond equities, strengthening its fixed income segment and reinforcing its profile as a diversified, multi-asset marketplace. It showcases the Exchange's commitment to providing a robust platform for various financial instruments, catering to the needs of both issuers and investors.
In related market news, the equities sector sustained a positive trajectory, with market capitalisation exceeding the N140 trillion mark. Data from the Nigerian Exchange revealed that the All-Share Index (ASI) rose to 218,113.84 points from 217,167.57 recorded previously, while market capitalisation advanced to N140.44 trillion from N139.83 trillion. This growth reflects renewed buying interest across large- and mid-cap stocks, driven by strong performances in banking and consumer goods counters.
Key gainers included NAHCO, which topped the chart with a 10 percent increase to close at N242, followed by UNION DICON with a similar 10 percent gain to N18.15 kobo. Fidelity Bank rose by 9.98 percent to N22.05 kobo, UBA appreciated by 8.33 percent to N52.00, and Unilever Nigeria gained 6.49 percent to close at N110.00. These movements indicate a dynamic market environment, with some counters experiencing profit-taking activities.
