By Peace Udugba
Emzor Pharma Funding SPV PLC has listed a ₦26.70 billion five-year, 19.00 per cent Series 1 Fixed Rate Bond on the FMDQ Securities Exchange Limited platform to support the expansion of local pharmaceutical manufacturing in Nigeria.
The bond was issued under Emzor Pharma Funding SPV PLC’s ₦40 billion Bond Issuance Programme and approved for listing by the Board Listings and Markets Committee of FMDQ Exchange.
The listing underscores the growing role of Nigeria’s debt capital market in mobilising long-term funding for critical sectors of the economy, particularly healthcare and pharmaceutical manufacturing.
Emzor Pharma Funding SPV PLC 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 company with decades of experience producing medicines and medical consumables for local and regional markets.
Proceeds from the bond issuance will be used to support the issuer’s working capital requirements and expand its local manufacturing capacity, in line with efforts to strengthen Nigeria’s healthcare self-sufficiency.
The transaction was sponsored by Renaissance Securities (Nigeria) Limited as Lead Sponsor, alongside FirstCap Limited and UCML Capital Limited as Co-Sponsors. The three firms are Registration Members (Listings) of FMDQ Exchange.
Speaking on the listing, Chairman of Emzor Pharma Funding SPV PLC, Emeka Okoli, said the successful issuance marked a significant milestone in the company’s efforts to deepen pharmaceutical manufacturing in Nigeria.
Okoli said the strong investor participation and oversubscription demonstrated confidence in Emzor’s business fundamentals and long-term growth plans.
According to him, proceeds from the bond will support the completion of what he described as Africa’s first full-scale antimalarial Active Pharmaceutical Ingredient (API) manufacturing plant.
He said the project would strengthen domestic pharmaceutical production, reduce dependence on imported APIs and contribute to greater pharmaceutical self-sufficiency in Nigeria and across Africa.
Also commenting on the transaction, Samuel Sule of Renaissance Capital Africa said the bond issuance was aimed at strengthening Nigeria’s pharmaceutical manufacturing base and promoting national health security.
Sule said Renaissance Capital Africa was pleased to have served as Lead Issuing House for Emzor’s second domestic bond issuance.
Meanwhile, Group Chief Operating Officer of FMDQ Group PLC, Tumi Sekoni, said the listing demonstrated the important role of the debt capital market in strengthening Nigeria’s healthcare value chain.
Sekoni said connecting an indigenous pharmaceutical manufacturer with long-term investor capital would help expand locally driven industries while contributing to the development of a deeper and more resilient Nigerian capital market.
The latest listing further reinforces FMDQ Exchange’s role in providing corporates with access to long-term capital and connecting businesses with diverse sources of funding to support sustainable growth.
FMDQ Exchange said it remained committed to deepening access to the debt capital market for indigenous manufacturers and other productive enterprises contributing to Nigeria’s economic development.
