FMDQ Securities Exchange Limited, on Tuesday said in line with the growing role of Nigeria’s debt capital markets in supporting the healthcare sector, it has approved the listing of Emzor Pharma Funding SPV PLC’s ₦26.70 billion 5-Year 19.00% on its platform.
Emzor Pharma Funding SPV Plc, it said, is a special purpose vehicle established to meet the capital market financing needs of its sponsor, Emzor Pharmaceutical Industries Limited, a wholly indigenous Nigerian pharmaceutical manufacturing group with decades of experience producing medicines and medical consumables for local and regional markets.
The listing under its Series 1 Fixed Rate Bond under its ₦40.00 billion Bond Issuance Programme, FMDQ said, further demonstrates the capacity of Nigeria’s debt capital markets to mobilise long-term funding for key sectors of the economy, including local pharmaceutical manufacturing.
Proceeds of this Bond issuance, sponsored by Renaissance Securities (Nigeria) Limited (Lead Sponsor), FirstCap Limited and UCML Capital Limited (Co-Sponsors), all Registration Members (Listings) of FMDQ Exchange, will be deployed to support the Issuer’s working capital needs and the expansion of its local manufacturing capacity, aligning with Nigeria’s ambition for healthcare self-sufficiency.
Commenting on the Bond listing, Emeka Okoli, Board Chairman, Emzor Pharma Funding SPV PLC, expressed the pleasure of Emzor “to have successfully completed its ₦26.70 billion Series 1 Bond Issuance, our second domestic bond issuance, marking a significant milestone in the company’s efforts to deepen local pharmaceutical manufacturing.
“The strong investor participation and oversubscription reflect the confidence investors have in Emzor’s business fundamentals and long-term vision. The proceeds from the issuance will support the completion of the first full-scale antimalarial Active Pharmaceutical Ingredient (API) manufacturing plant in Africa, a transformative project that will strengthen domestic pharmaceutical manufacturing, reduce reliance on imported APIs and contribute to greater pharmaceutical self-sufficiency in Nigeria and across the continent.”
He expressed the board’s gratitude to the investors, transaction advisers and the Nigerian capital markets community for their confidence and support.
Similarly, Samuel Sule of Renaissance Capital Africa, said the company “is pleased to again have been entrusted, as Lead Issuing House, with a landmark issuance for Emzor Pharmaceutical Industries Limited. The transaction, Emzor’s sophomore domestic bond, is directed at the heart of Nigeria’s pharmaceutical manufacturing base, promoting national health security and sovereignty by supporting completion of the first antimalaria API plant on the sub-continent.”
Also speaking on the transaction, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group said the bond’s listing “underscores the vital role our debt capital markets play in strengthening Nigeria’s healthcare value chain. By connecting a leading indigenous pharmaceutical manufacturer with long-term investor capital, FMDQ Exchange is supporting the expansion of locally driven industries while contributing to the development of a deeper and more resilient capital market.”
The listing, FMDQ said in the statement further reinforces its role as a platform for corporates seeking to access long-term capital and highlights investor appetite for well-structured issuances that support Nigeria’s real sector. It also reflects the Exchange’s role in connecting businesses with diverse sources of funding to support sustainable growth and expansion. FMDQ Exchange remains committed to deepening access to the debt capital markets for indigenous manufacturers and other productive enterprises that contributes to Nigeria’s broader economic development.
