UAC Concludes Maiden N18.87bn Commercial Paper Issue

UAC of Nigeria PLC (“UAC” or the “Company”) is pleased to announce the successful completion of its ₦18.7 billion Series 1 and 2 Commercial Paper issuance (the “CP Issuance”), the debut issuance under its recently established ₦45 billion Commercial Paper Programme.

UAC’s CP Issuance was very well received and attracted significant demand from a wide range of investors including pension fund administrators, asset managers, insurance companies and high net-worth individuals. The CP Issuance comprised two tenors – a 90-day Series 1 issuance which priced at 8.00% yield, and a 181-day Series 2 issuance which priced at 8.25% yield. This reflects the strong credit quality of the Company and investors’ positive sentiment towards UAC’s operations and strategy.

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