Emzor Pharmaceutical Industries has successfully raised N26.7 billion ($19.8 million) through a Series 1 Fixed Rate Bond on the FMDQ Group Exchange. The bond, issued via its special purpose vehicle Emzor Pharma Funding SPV Plc, carries a 19 percent coupon with a five-year tenor. It is part of a larger N40 billion bond issuance programme and was oversubscribed due to strong investor demand. Proceeds will support working capital, expand manufacturing capacity, and complete West Africa's first full-scale anti-malarial Active Pharmaceutical Ingredient (API) facility.
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