Emzor Pharmaceuticals Industry Limited for the first time accessed the domestic debt capital markets to raise 5 years financing in local currency using a corporate bond by issuing a NGN13.73 billion 5-Year 10% Series 1 Senior Unsecured Fixed Rate Bond due 2026 under a NGN50 billion Debt Issuance Programme.
The N13.73 Billion Series 1 Unsecured Bonds was accorded a ‘A-’ credit rating by Global Credit Rating Co. and was undersubscribed by 8.47%, with the intended capital raise valued at NGN15 billion. The bond instrument will be exclusively listed on the NGX Ltd platform.
Emzor Pharmaceutical Industries Limited is a private indigenous pharmaceutical manufacturing group founded in 1984 by Dr. Stella C.Okoli, OON. The company manufactures high-quality pharmaceutical products and medical consumables.
From the modest beginning with four (4) products in 1987, the company now manufactures a wide range of products in the analgesic, anti-malaria, vitamin/haematinics/multivitamin supplement, anti-helmintic, antibiotics and therapeutic categories. The company has in its stable more than 120 different products