Wednesday, April 21, 2021 / 03:48 PM / by Nigerian Exchange Group / Header Image Credit: Emzor

NigerianExchange (NGX) Limited continues to be the preferred listing destination forcompanies seeking to raise capital via corporate bonds, including privatecompanies looking to raise public capital. One of such private companies takingadvantage of this opportunity is Emzor Pharmaceuticals which has listed its N13.7billion 5-Year Series1 Fixed rate Senior Unsecured Bond, due 2026 exclusively on the floor of NGXtoday, 21 April 2021. The listing is the first public instrument issued byEmzor Pharmaceuticals and is part of its larger N50billion Debt Issuance Programme.

Atthe time of its issuance on 20 January 2021, the bond saw solid interest from adiverse pool of institutional investors, and was priced at a coupon rate of10.00% per annum. With this listing, members of the general public who investedin the bond can now sell their investments, while those who wish to invest cando so.

Speakingon the significance and success of the bond issue, the Group Managing Director,Emzor Pharmaceuticals, Dr. Stella Okoli, OON, commented: "This first-time bondissuance is a fantastic achievement for Emzor and is in line with ourcommitment to facilitate unlimited wellness by delivering quality andaffordable medicines for all. The capital raised will, therefore, drive andaccelerate our expansion plans, delivering strong growth and marginimprovement. We recognise the efforts of the investor community ensuring thesuccess of this bond issuance and commit to uphold their confidence in us as wedeliver on our long- term growth strategy."

Overthe years, Emzor Pharmaceutical has become a household name and continues toestablish its footprint as a leading manufacturer of high-qualitypharmaceutical and medical consumables in Nigeria.  Facilitated by leadissuing house, Renaissance Securities (Nigeria) Limited, and joint issuinghouse, Afrinvest (West Africa) Limited, the debut offering is without a doubt,testament to the company's growth potentials, and the level confidence placedon the brand by the investing community.

Onits part, NGX Limited continues to deliver on its commitment to provide aplatform for issuers and investors to meet their investment objectives. Just aweek ago, the market witnessed the BUA Cement's debut listing with a N115billion Bond issue, thelargest of many corporate debt issuances in the history of the Nigerian capitalmarket.

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