United Nigeria Airlines plans N20bn commercial paper issuance, marking first domestic airline entry into Nigeria's short-term debt market.
Amount Raised
₦20 Billion
Round Type
Venture
NigeriaLeisureTravelInvestors
Description
United Nigeria Airlines is planning to raise N20 billion through its debut commercial paper issuance, becoming the first domestic airline in Nigeria to access the short-term debt market. The issuance comprises Series 1 and Series 2 commercial papers with tenors of 270 days and 364 days respectively, under a N100 billion commercial paper programme. Meristem Capital Limited will arrange the transaction, with five dealers supporting the offering. The funding will support the airline's five-year growth strategy targeting expanded domestic, regional and international operations.
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