Nigeria’s UPDC to raise N20 billion to pay debt

Piggyvest

To further cut down its mounting debt portfolio, UAC Property Development Company, UPSC will raise N20 billion via bond.

The UAC real estate and property company is challenged with market glut due to oversupply.

The company said it will use the proceeds of the bond to pay of its maturing debt obligations as well as stabilise it’s operations.

UPDC is Nigeria’s largest property company list on the Nigerian Stock Exchange.