FMDQ Securities Exchange Limited has announced the registration of the UAC of Nigeria PLC N45.00 billion Commercial Paper (CP) Programme on its platform.
Also, FMDQ Exchange, through its Board Listings and Markets Committee, has approved the listing of the PAT Digital Infra Fund SPV PLC N10.00 billion Series 1 Senior Guaranteed Fixed Rate Bond under its N50.00 billion Bond Issuance Programme on the Exchange’s platform.
UAC of Nigeria Plc is a leading diversified Company, operating in the Food and Beverage, Real Estate, Paint and Logistics sectors of the economy.
With the CP registration, sponsored by Stanbic IBTC Capital Limited, UACN is strategically positioned to raise short-term finance easily and quickly from the Nigerian debt capital market (DCM).
By the registration of its CP Programme and quotation of subsequent CPs on FMDQ Exchange, UAC will enjoy exceptional benefits which include, but are not limited to, an unrivalled and efficient platform for access to capital, value transfer and risk management, enhanced investor confidence, effective price formation and global visibility.
Meanwhile, the PAT Digital Infra Fund SPV Bond, guaranteed by InfraCredit, joined a host of other corporate debt securities issued on FMDQ Exchange’s platform this year, actively tapping the Nigerian debt capital market (DCM) to raise funds to meet working capital requirements.
PAT Digital Infra Fund SPV PLC is a special purpose funding vehicle established by Pan African Towers Limited to raise finance from the DCM through the listing of debt securities.
Pan African Towers is a telecommunications infrastructure company and wireless service facilitator in Nigeria aimed at catering to the telecommunication needs ranging from broadband and mobile telephony to other local value-added services in Africa.
Commenting on the successful bond issuance, the Chairman, Pan African Towers, Mr Oluwole Adeleke said: “PAT Digital Infra Fund SPV PLC is grateful for InfraCredit’s support in its first issuance in the debt capital market. The guarantee is essential to the Company’s vision of being the number one wholly indigenous owned digital telecommunications infrastructure and wireless service facilitator in Nigeria.
“We have demonstrated capacity to achieve faster growth with solid top and bottom-line performance supported by long-term contracts with leading service providers in mobile telecommunication and internet services in Nigeria. We would also like to thank all our transaction parties for working with us in delivering a successful transaction”.
Also commenting on the issuance, the sponsor of the bond and a Registration Member of FMDQ Exchange, Chapel Hill Denham Advisory Limited, represented by its Managing Director, Mrs Kemi Awodein, said the firm was honoured to have been mandated on the milestone transaction.
“PAT Digital Infra Fund SPV PLC’s successful issuance of the N10.00 billion Series 1 bond is significant for the company’s long-term vision and was well received given the invaluable support provided by the unconditional credit backing from InfraCredit. We pride ourselves on our ability to consistently deliver innovative products and are excited to have delivered a bond that improves digital infrastructure in Nigeria, enhances job creation, and domestic economic growth, as well as reduces Pan African Tower’s carbon emission,” Mrs Awodein said.
IN CASE YOU MISSED THESE FROM NIGERIAN TRIBUNE
- ‘Officials initially offered to help but when the number of able-bodied citizens at the centre increased, they left us unattended to’
- Why Ogun Tops List Of ‘Yahoo Boys’ In Nigeria ― Governor Abiodun
- Police, Amotekun after criminals on Lagos-Ibadan expressway
- Suspected cannibal pays N500,000 for boy’s human organs, says ‘that’s my favourite meal, especially the throat’
- Court awards Nnamdi Kanu N1 billion over invasion of his home by military, asks FG to apologise
and then