FMDQ Securities Exchange Limited has approved the listing of Emzor Pharma Funding SPV Plc’s N26.70 billion bond on its platform.
Listing of the 5-Year 19 percent Series 1 Fixed Rate Bond which is under its N40 billion bond issuance programme highlights the growing role of Nigeria’s debt capital markets in supporting the healthcare sector.
Emzor Pharma Funding SPV Plc (Emzor Pharma Funding) is a special purpose vehicle established to meet the capital market financing needs of its sponsor, Emzor Pharmaceutical Industries Limited, a wholly indigenous Nigerian pharmaceutical manufacturing group with decades of experience producing medicines and medical consumables for local and regional markets.
Approved by the Exchange’s Board Listings and Markets Committee, this listing further demonstrates the capacity of Nigeria’s debt capital markets to mobilise long-term funding for key sectors of the economy, including local pharmaceutical manufacturing.
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Proceeds from this Bond issuance, sponsored by Renaissance Securities (Nigeria) Limited (Lead Sponsor), FirstCap Limited and UCML Capital Limited (Co-Sponsors), all Registration Members (Listings) of FMDQ Exchange, will be deployed towards supporting the Issuer’s working capital needs and the expansion of its local manufacturing capacity, aligning with Nigeria’s ambition for healthcare self-sufficiency.
Emeka Okoli, board chairman, Emzor Pharma Funding SPV Plc while commenting on the Bond listing said,…
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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