Emzor Pharma Funding SPV PLC Lists ₦26.70 Billion Bond on FMDQ Exchange to Support Nigeria’s Healthcare Sector
FMDQ
Highlighting the growing role of Nigeria’s debt capital markets in supporting the healthcare sector, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) has approved the listing of Emzor Pharma Funding SPV PLC’s ₦26.70 billion 5-Year 19.00% Series 1 Fixed Rate Bond (the “Bond”) under its ₦40.00 billion Bond Issuance Programme on its platform. Approved by the Exchange’s Board Listings and Markets Committee, this listing 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.
Emzor Pharma Funding SPV PLC (“Emzor Pharma Funding” or the “Issuer”) 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. Proceeds from 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 towards supporting 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, Mr. Emeka Okoli, Board Chairman, Emzor Pharma Funding SPV PLC, said, “Emzor is pleased 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. We are grateful to our investors, transaction advisers and the Nigerian capital markets community for their confidence and support.”
In the same vein, Mr. Samuel Sule, Renaissance Capital Africa, said, “Renaissance Capital Africa 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 PLC, stated, “The listing of Emzor Pharma Funding SPV PLC’s Series 1 Bond on FMDQ Exchange 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.”
This listing further reinforces FMDQ Exchange’s 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.
FMDQ Group PLC (“FMDQ Group” or the “Group”) is Africa’s first vertically integrated FMI group, strategically positioned to provide end-to-end services across the financial markets value chain. The Group offers registration, listing, quotation, and noting services; integrated trading platforms; clearing & central counterparty, and settlement services for financial markets transactions; securities depository services; and market data & information services, across the debt capital, foreign exchange, derivatives, and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
