Bonds & Fixed Income | |
Bonds & Fixed Income | |
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Tuesday,
May 05, 2020 / 9:09 AM / By Arthur Stevens Asset Mgt / Header Image Credit: United Capital
We are pleased to inform you of the imminent launch of
United Capital PLC's ("United Capital" or "the Issuer") debut Series 1 and
Series 2, NGN 20 billion 5-year and 7-year Fixed Rate Senior Unsecured Bonds,
under its NGN 30 billion Debt Issuance Programme.
United Capital is a publicly-listed company and a
leading financial services group which provides bespoke value-added services to
individual, commercial and corporate clients. United Capital's service
offerings include investment banking, asset management, securities trading,
trustee services, and research in Nigeria through the group company and its
independently managed subsidiaries (United Capital Trustees, United Capital
Asset Management and United Capital Securities).
United Capital has been assigned a Bbb+ long-term
rating by Agusto & Co. and an A- long-term rating by Datapro. The issuer
currently has Total Assets of N197 billion (as at March 31, 2020) and over NGN
120 billion in clients' funds managed by its Asset Management subsidiary.
United Capital has consistently shown a strong financial and operating track
record with a Return On Equity of 25% and a Net Profit Margin of 57.8% as at
FY'2019.
United Capital plans to utilize proceeds from the
issuance to make anchor investments/underwrite investment grade fixed income
instruments issued by entities advised by the Issuer.
Please see indicative terms of the offer below:
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