Nigeria’s leading financial services group, United Capital Group, played a crucial role in the successful issuance of Nigeria’s first-ever domestic US dollar-denominated bond. United Capital acted as the Lead Issuing House and Coordinator for the transaction, which generated over US$900 million in unprecedented domestic demand, surpassing 180% subscription levels.
The FGN Domestic Dollar Bond offers a 9.75% yield and attracted a diverse group of investors, including Nigerians and non-Nigerians residing in Nigeria, Nigerians in Diaspora, and institutional investors. The bond will be listed on both the Nigerian Exchange Limited (NGX) and FMDQ Securities Exchange Limited (FMDQ Exchange), with proceeds deployed to critical sectors of the economy to drive growth and address infrastructure gaps.
United Capital’s Managing Director of Investment Banking, Dr. Gbadebo Adenrele, praised the success of the issuance as a landmark moment for Nigeria’s capital market, while the Group CEO, Peter Ashade, emphasized their commitment to developing Africa’s capital markets.
United Capital Group’s central role in this historic transaction highlights its capacity to lead significant capital market activities, reinforcing its reputation in Africa’s financial landscape.
About United Capital Group
United Capital Group is a leader in financial and investment services, providing a range of services such as Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, Consumer Finance, and Microfinance Banking. The Group is committed to transforming the African continent by offering innovative investment solutions to governments, companies, and individuals.
By leveraging innovation, technology, and specialist skills, United Capital is setting the standard for financial and investment services in Africa, creating value for all stakeholders.
[ad_2]
Source link
