Me Cure Industries Funding SPV Plc: NSE Lists N3bn Bonds

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Sunday May 23 2021 / 07:00 AM / by NGX / Header Image Credit:  NGX

 

Trading License Holders are hereby notified that the N3,000,000,000, 13% Senior Secured Fixed Rate Bonds Due 2026 under the Me Cure Industries Funding SPV Plc's N20,000,000,000 Bond Issuance Program was on Friday, 21 May 2021 listed on the Nigerian Exchange Limited.

 

Below are details of the bonds.

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Me Cure Industries Lists N3bn Bond on NGX

Me Cure Industries Limited commemorated the listing of its N3Billion bond with a digital Closing Gong Ceremony on Nigerian Exchange (NGX) Limited on Friday, 21 May 2021. The debut listing was the N3 billion 5-Year Series 1 Fixed rate Senior Secured Bond issued by Me Cure Industry Funding SPV Plc under the ₦20billion Debt Issuance Programme.

Speaking at the ceremony, the Divisional Head, Listings Business, NGX Limited, Mr. Olumide Bolumole stated, "At NGX Limited, we maintain our commitment to driving sustainable products and responsible investment in our market. We are, therefore, pleased to celebrate this listing from Me Cure - a leading healthcare company serving millions of patients and leveraging technology to help people fight everyday illnesses. Today's listing represents a pivotal milestone in the growth journey of Me Cure industries and I congratulate its board and management for this landmark achievement, as well as the commitment towards ensuring the sustained growth of the company. Looking ahead, we encourage Me Cure and other unlisted issuers to utilize the NGX platform to meet future capital needs across debt and equity to support business expansion in line with their overall corporate strategy."

On his part, the Chairman, Me Cure Industries, Mr. Samir Udani noted, "It gives me great pleasure to share this electronic podium as a business owner who has crossed a milestone today. Entrepreneurs like me live for days like this and it is a matter of pride to be welcomed as a new member of the NGX family. The path to success is steep, but with the encouragement of NGX, we at Me Cure will contribute to building and shaping Nigeria's healthcare industry any way we canl. COVID-19 has shown how countries can become vulnerable, making Healthcare investments are must-have in our country. Therefore, we are focused on sustaining and growing our existing basket of over 100 products. Finally, we are pleased to say that our paths will once again cross as we have made the bold decision to list on the Growth Board of NGX in coming months."

The Group Executive Director, Cordros Capital (Lead Financial Adviser/Issuing House), Mr. Femi Ademola CFA, expressed his appreciation to capital market stakeholders and other professional parties to the transaction - Cordros Capital Limited, Vetiva Capital Management Limited and Greenwich Merchant Bank Limited. He further stated, "I must thank NGX for the opportunity to join Me Cure for this important occasion of listing. We appreciate the collaboration we enjoyed with NGX during this process and are confident this will continue into the future. We must also thank Me Cure for having faith in us to drive this process to a successful end. We believe the Healthcare sector is important in the economic growth of Nigeria because of its invaluable contribution to Human Capital Development, which should be prioritised at this time."

NGX continues to facilitate listing and trading activity in the market while remote trading and working from home continues. This year, NGX has facilitated needed financing of over ₦4.6Tn in capital raised by governments and corporates across various asset classes. 


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