United Capital leads historic Domestic FGN US Dollar Bond Issuance, raises over $900m

United Capital Group, a leading financial services group in Nigeria, has successfully spearheaded the issuance of the inaugural Domestic FGN US Dollar Bond, raising over US$900 million.

This groundbreaking transaction marks Nigeria’s first-ever domestic US dollar-denominated bond and demonstrates United Capital’s expertise in the capital markets.

The bond, which offers a 9.75% yield, has attracted significant demand from a diverse group of investors, including Nigerians and non-Nigerians residing in Nigeria, Nigerians in the Diaspora, and institutional investors.

The proceeds from the bond will be deployed to critical sectors of the economy, supporting ongoing efforts to sustain growth and address key infrastructure gaps.

Dr. Gbadebo Adenrele, Managing Director, Investment Banking at United Capital Group, described the transaction as a “landmark moment” for Nigeria’s capital market, highlighting United Capital’s innovative approach to finance and investor confidence in the country’s economic growth trajectory.

Peter Ashade, Group CEO, United Capital Group, emphasized the company’s commitment to developing Africa’s capital markets, stating that the transaction aligns with their vision of transforming the African financial landscape.

United Capital Group’s role as Lead Issuing House/Coordinator was supported by a consortium of partners, including Africa Finance Corporation, Meristem Capital Limited, Stanbic IBTC Capital Limited, and Vetiva Advisory Services Limited.

This transaction reinforces United Capital Group’s reputation in Africa’s financial landscape, showcasing its capacity to lead and manage significant capital market activities.