The UUBO Capital Markets team is delighted to have acted as Solicitor to the Trustee in connection with the establishment of a NGN40 billion Bond Programme by Emzor Pharmaceutical Industries Limited (“Emzor”) and the issuance of its NGN25 billion Series I Bonds.
The NGN25 billion Series I Bonds were oversubscribed by approximately 106.8%, demonstrating strong investor confidence in Emzor and its strategic financing objectives.
The Programme was structured through Emzor Pharma Funding SPV PLC, a dedicated special purpose vehicle established to facilitate Emzor’s access to long-term debt capital in the Nigerian market. Notably, the transaction reflects the continued expansion of Nigeria’s domestic bond market into the healthcare sector. It demonstrates the increasing use of structured bond platforms by indigenous pharmaceutical companies seeking to diversify their funding sources beyond traditional bank lending, while highlighting the growing maturity of Nigeria’s debt capital markets and investor appetite for sector-diversified corporate issuances.
The UUBO team was led by Ekundayo Onajobi, a partner in our Capital Markets team, supported by Lisa Esamah, Omeiza Alao and Adaobi Omosefe Uzo.
For more information on UUBO’s Capital Markets practice and other practice areas of the firm, please contact us at uubo@uubo.org and visit www.uubo.org.
