UACN has listed a N54.03 billion seven-year senior unsecured bond on the Nigerian Exchange Group (NGX). The bond, admitted to trading on April 17, 2026, was issued under the company's N150 billion multi-instrument programme. It carries a fixed coupon rate of 17.35 percent and is priced at par, consisting of 54.03 million units valued at N1,000 each. The instrument will mature on December 15, 2032, with interest payments made semi-annually to investors. Coupon disbursements are scheduled for June and December each year until maturity. UACN remains one of the few Nigerian firms to access the capital market through a structured bond issuance in the current economic climate.
UACN is paying a 17.35 percent annual return on its bond, a rate that far exceeds the average Nigerian worker's salary growth in recent years. This means the company can secure massive capital at high cost while most citizens struggle to access credit at any rate. The bond's success highlights a widening financial gap between corporate balance sheets and everyday Nigerians. Those buying into this bond are likely the only ones benefiting from such returns in an economy where savings accounts yield far less.
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