Emzor Pharmaceuticals Issues N13.7bn Bond

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Emzor Pharmaceuticals has listed a N13.7billion 5-Year Series 1 Fixed rate Senior Unsecured Bond, that will be due 2026.

The listing is the first public instrument issued by Emzor Pharmaceuticals and is part of its larger N50 billion Debt Issuance Programme.

The NGX announced Wednesday that the bond generated solid interest from a diverse pool of institutional investors, and was priced at a coupon rate of 10.00 percent per annum.

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

Speaking on the significance and success of the bond issue, the Group Managing Director, Emzor Pharmaceuticals, Stella Okoli commented: “This first-time bond issuance is a fantastic achievement for Emzor and is in line with our commitment to facilitate unlimited wellness by delivering quality and affordable medicines for all.

The proceeds will go into the company’s expansion plans to drive and accelerate the company’s efforts at delivering strong growth and margin improvement.

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

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 is without a doubt, 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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