April 26, 2024/FSDH Research
FSDH Capital Limited is pleased to inform you that the Series 9 & 10 Commercial Paper Issuance (“CP”) of Fidson Healthcare Plc (“Fidson” or “the Issuer” or “the Company”) of up to ₦10 billion under its ₦25 billion Commercial Paper Programme (“the Programme”) is STILL OPEN and scheduled to close on Monday, 29th April 2024. Fidson is one of the leading pharmaceutical manufacturing companies in Nigeria. The Company is engaged in the manufacturing, marketing, and sales of pharmaceutical and healthcare products in Nigeria and West Africa. Fidson currently has over 250 duly registered pharmaceutical brands, across different therapeutic areas, in the Nigerian market. For the year ended 2023, the Company recorded ₦53.1 billion in sales, a 31% increase over ₦40.6 billion recorded in the previous year. Fidson has a wide range of over 150 high-quality, unique and innovative products that cover therapeutic areas ranging from infectious diseases, cardiovascular diseases, antimalarials, antiretrovirals, psychiatry, nutrition, nutraceuticals, antitussives etc. About 60% of these are made locally and the balance is imported. Fidson has previously accessed funding through the Capital markets, having issued a ₦5 Billion 210 & 270-day Commercial paper in December 2023, ₦5 Billion 181 & 269-day Commercial paper in November 2023, ₦5 Billion 269- day Commercial paper in March 2023, ₦3 Billion 270- day Commercial paper in June 2022, ₦2.15 Billion 90-day Commercial Paper in December 2021, ₦4.5 Billion 270-day Commercial Paper in March 2021, a ₦2.3 Billion Rights Issue in July 2019, and a ₦2.0 Billion five-year Secured Fixed Rate Corporate Bond in November 2014. Key Financial Highlights |
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Please see below the indicative terms of the offer: |
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*Kindly note that the offer is restricted to only QIIs and the yield payable on the Note is subject to Withholding Tax (WHT) except for exempted investors (E.g., PFAs). Kindly see the link Offer documents to the following documents for your information and use:
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