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NSE lists N10bn fixed rate bonds of United Capital Plc

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The Nigerian Stock Exchange (NSE) on Tuesday, September 22, announced that it has listed N10 billion shares of United Capital Plc at the exchange.

The bond is a 5 year senior unsecured fixed-rate series bonds due 2025, with a 12.5 per cent interest.

In a statement obtained by Business Metrics from the official website of NSE and signed by Godstime Iwenekhai, its head of listings regulation, the medium-term bond will be issued as part of the N30 billion Debt Issuance Programme earlier announced by United Capital.

The subscription for the offer will last for twelve (12) days, as the offer will open on the 4th of May, 2020, and close on the 15th of May, 2020.

Summary of the offer

  • Issuer: United Capital Plc
  • Offer date: 28th of May, 2020
  • Maturity date: 28th of May, 2025.
  • Units of sale: 10,000,000
  • Price: N1000 per units offered
  • Coupon rate: 12.5%
  • Redemption: Semi-annually, and payable in arrears on 28th November and 28th May of each year, up to and including the Maturity Date.

Recall that earlier in May, this year, United Capital announced plan to raise 5-year and 7-year fixed rate senior unsecured Bonds of N10 billion each under its N30.0 billion debt issuance programme.

The leading financial service group says it plans to utilise the proceeds for operational and strategic investment in the company.

The proceeds, according to the firm, will be used to make anchor/underwrite investment grade fixed income instruments issued by entities advised by the Issuer.

United Capital Plc, is a leading African financial and investment banking group, providing bespoke value-added service to its client. The firm was incorporated in Nigeria on March 14, 2004.

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