NGX lists Emzor Pharmaceuticals’ N13bn Bond 

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NGX lists Emzor Pharmaceuticals’ N13bn Bond 

Emzor Pharmaceuticals Plc has listed N13.7billion 5-year Series 1 Fixed rate senior unsecured Bond, due by 2026 on the floor of Nigerian Exchange (NGX) Limited on Wednesday.

The listing was the first public instrument issued by Emzor Pharmaceuticals and was part of its larger N50billion Debt Issuance Programme.

The bond, purchased by  a diverse pool of institutional investors, was priced at a coupon rate of 10.00 percent per annum.

With the listing, members of the general public who invested in the bond can now sell their investments, while those who wish to invest can do so.

Speaking on the bond listing, the Group Managing Director, Emzor Pharmaceuticals, Dr. Stella Okoli, said the first-time bond issuance was a great achievement for Emzor and it was in line with the company’s commitment to facilitate unlimited wellness by delivering quality and affordable medicines for all.

She noted that the capital raised would be used by the company to drive and accelerate its expansion plans in order to deliver strong growth and margin improvement.

“We recognise the efforts of the investment community ensuring the success of this bond issuance and commit to uphold their confidence in us as we deliver on our long- term growth strategy”, she said.

Over the years, Emzor Pharmaceutical has become a household name and continues to establish its footprint as a leading manufacturer of high-quality pharmaceutical and medical consumables in Nigeria.

Facilitated by lead issuing house, Renaissance Securities (Nigeria) Limited, and joint issuing house, Afrinvest (West Africa) Limited, the debut offering was a testament to the company’s growth potentials, and the level of confidence placed on the brand by the investing community.

On its part, NGX Limited continues to deliver on its commitment to provide a platform for issuers and investors to meet their investment objectives. Just a week ago, the market witnessed the BUA Cement’s debut listing with a N115billion Bond issue, the largest of many corporate debt issuances in the history of the Nigerian capital market.

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