Me Cure Industries Limited to raise ₦4.5 billion Series 1 Bond under the ₦20 billion Bond Issuance Programme

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We are pleased to introduce Me Cure Industries Funding SPV Plc offer of up to ₦4.5 billion Series 1 Bond (the “Transaction”) under the ₦20 billion Bond Issuance Programme which is now open.

The Bond is sponsored by Me Cure Industries Limited, a leading human therapeutics company in the Nigerian pharmaceutical industry. For over 15years, Me Cure industries Limited has contributed hugely to the advancement of medical practice in Nigeria with the use of technology and innovation. Me Cure industries Limited pioneered the development of novel products based on advances in technology and launched the pharmaceutical industry’s first tablet in a capsule formulation called Liquitab Floatcap.


Me Cure industries Limited has a stable and experienced executive management team with a history of consistent superior financial performance and returns. The company is viewed to have a stable outlook, with a BBB rating by Global Credit Rating Co. (“GCR”) and BBB by DataPro.


For more information on the Offer, please refer to the summary terms indicated below and the Offer open link to the documents indicated below.


  1. Commitment Form
  2. Series I Pricing Supplement
  3. Series I Trust Deed
  4. The Series I Bond Rating Reports by GCR Co. (“GCR”), and DataPro Limited (“DataPro”)
  5. The Sponsor’s rating report by GCR Co. (“GCR”), and DataPro Limited (“DataPro”)
  6. Shelf Prospectus
  7. Programme Trust Deed
  8. PENCOM Compliance Certificate
  9. Please see below the indicative terms of the proposed Offer:
    Issuer: Me Cure Industries Funding SPV PLC
    Sponsor: Me Cure Industries Limited
    Issue Size Up to NGN4,500,000,000.00
      Minimum Subscription Minimum of N5,000,000 and in multiples of N1,000,000 thereafter (i.e. 1000 units)
    Par Value At par NGN1,000 for each unit of the Bond
    Series Series 1
    Tenor 5 years
    Maturity Date 2026 (being the 5th anniversary from the Issue Date)
    Redemption / Payment Basis Amortising from the expiration of the Principal Moratorium based on repayment schedule.
    Method of Distribution By way of Book building to Qualified Institutional Investors and High Net Worth Investors
    Price Guidance 150bps- 200bps above FGN bond of similar maturity
    Coupon Basis Fixed, semi-annual
    Sponsor Rating GCR (BBB), DataPro (BBB)
    Issue Rating GCR (BBB), DataPro (A-)
    Eligible Investors Qualified Institutional Investors and High Net Worth Investors
    Book build open 22nd  Feb, 2021
    Book build close 5th    March, 2021
    Use of Proceeds To subscribe for the intercompany notes issued by Mecure Industries Limited, as well as the cost and expenses of the issue.
    Pension Compliance Qualifies as securities in which Pension Fund Assets & Trustees can invest under the Pensions Reforms Act 2014 and the Trustees Investments Act, Cap T22, LFN, 2004
    Listing(s) The Nigerian Stock Exchange
    Receiving Bank Union Bank of Nigeria Plc


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