UAC OF NIGERIA: UAC OF NIGERIA PLC COMPLETES FIRST 18.7 BILLION COMMERCIAL PAPER ISSUE







PRESS RELEASE

Regulated information

UAC of Nigeria PLC completes first commercial paper issue of ₦18.7 billion

Lagos, June 1, 2022

UAC of Nigeria PLC (“UAC” or the “Company”) is pleased to announce the successful completion of its ₦18.7 billion Series 1 & 2 Commercial Paper Issuance (the “CP Issuance”), the first issue as part of its newly created ₦45. commercial paper program.

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

The CP issue, which was subscribed at 3.8x, was part of the intra-group cash arrangement between UAC and its subsidiaries to meet short-term working capital needs.

Stanbic IBTC Capital Limited acted as lead arranger and broker for the CP issue, while FCMB Capital Markets Limited acted as joint broker for the CP issue. Banwo & Ighodalo acted as attorneys for the transaction.

Commenting on the importance and success of the CP show, Ms Funke Ijaiya-Oladipo,UAC Group Financial Directorsaid: “We are delighted to have successfully completed our first CP issuance in the Nigerian debt market. It is truly a testament to the strength of our company, the sustainability of our group brands and the confidence displayed by the investment community. It is without a doubt that the success of this issue provides us with a means to optimize our funding costs while continuing to drive our strategic initiatives as an organization. We are delighted with the success of the issuing CP and grateful to all parties involved in the transaction.

The commercial paper will be listed on the FMDQ stock exchange.

For more information please contact

Funke Ijaiya-Oladipo

Group Chief Financial Officer

[email protected]

+234 906 269 2908

www.uacnplc.com

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About UAC of Nigeria PLC

UAC of Nigeria PLC is a holding company with subsidiaries and associated companies operating in the sectors of animal feed and other edible products, paints, packaged food and beverages, fast food restaurants, real estate and logistics. The UAC has played a leading role in the development of Nigeria for over a century. The Company strives to make its companies leaders in their chosen segments.

UAC’s portfolio includes leading brands such as Gala sausage roll, Swan natural spring water, Dulux paint, Sandtex paint, Grand soybean oil and cereals, Vital Feeds, dog food Binggo, Mr. Bigg’s and Debonairs Pizza.

The company is rated A- by both DataPro and Agusto&Co, this investment grade rating reflecting the company’s strong competitive position, robust earnings potential and experienced management.

For more information visit: https://www.uacnplc.com/

Media inquiries: [email protected]

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Disclaimer

UAC of Nigeria plc published this content on June 01, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jun 01, 2022 6:31:02 PM UTC.

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2022 sales 122B
293M
293M
Net income 2022 2,716 million
6.54M
6.54M
Net debt 2022

PER 2022 ratio 12.2x
2022 return 4.70%
Capitalization 33,135m
79.8 million
79.8 million
capi. / Sales 2022 0.27x
capi. / Sales 2023 0.24x
# of employees 1,469
Floating 75.2%

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