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STILL OPEN: United Capital Infrastructure Fund Series III Offer of up to N10 Billion
(Source: Afrinvest Capital, Date: 10-Jun-2024)

Dear Valued Investor,

Afrinvest Capital Limited is pleased to inform you of the launch of the United Capital Infrastructure Fund (...UCIF" or the ...Fund" ) Series III Issuance of up to N10 billion (the "Series III Issuance" or the "Offer") under the N150 billion Shelf Programme (the ...Programme").  The Fund is managed by United Capital Asset Management Limited (...UCAML" or the ...Fund Manager" ) and, Africa Finance Corporation (...AFC" ) is the Independent Adviser to the Fund. The Offer is still open for investment and is scheduled to close on 10th July 2024. 

UCAML is the 2nd largest fund provider in Nigeria, with over N1.1 trillion in assets under management across mutual funds and privately managed funds. UCAML is also the promoter of 9 publicly listed collective investment schemes in Nigeria.

The Fund Manager, through the United Capital Infrastructure Fund, seeks to provide Qualified Institutional Investors (...QIIs" ) with investment opportunities in de-risked infrastructure assets that are able to generate stable long-term income. This offer gives QIIs the opportunity to earn competitive returns whilst instrumentally bridging the infrastructure funding deficit in Nigeria and Sub-Saharan Africa. In addition, the United Capital Infrastructure Fund gives QIIs access to an alternative investment asset class with diversification opportunities and a higher yielding investment instrument relative to publicly available traditional debt instruments.

Building on the success of its previous issuance, which has a YTD return of 21.9% as at April 2024, from the date of investment, the Fund Manager is seeking to deploy the proceeds of the Series III Issuance, to finance bankable infrastructure and infrastructure-related opportunities across various sectors.

Benefits of investing include:

  • Investors are exposed to higher returns, relative to the returns available on traditional asset classes.
  • A robust investment process, which includes an independent review by AFC, and rigorous risk management, ensure that risk is minimized, given the expected returns.
  • The Variable Returns on the Fund ensure that investment is always ahead of benchmark rate, and to a reasonable extent, tracks inflation.
  • Portfolio diversification through investment in an alternative asset class
  • The Fund provides regular income distributions to its Unitholders, made bi-annually.
  • Investors are able to invest in green and sustainable development projects through investment in the project partners.
The net proceeds from this Offer will be used to provide debt finance for bankable infrastructure or infrastructure-related projects, companies, and Special Purpose Vehicles (SPVs), as indicated in the Fund's investment objectives and policies.

Kindly see below summary of the terms of the offer:

 
FUND United Capital Infrastructure Fund
PROGRAMME SIZE N150,000,000,000 (One Hundred and Fifty billion naira only)
NATURE OF FUND The Fund is a close-ended unit trust scheme and is classified as an infrastructure fund under the Rules for Infrastructure Funds issued by SEC
DESCRIPTION OF
SECURITIES TO BE ISSUED
10,000 units of N1,000,000 each in the United Capital Infrastructure Fund Series III
OFFER SIZE N10,000,000,000 (Ten billion naira only) 
SERIES III
TENOR 10 years 
OFFER OPEN DATE Monday, 03 June 2024
OFFER CLOSE DATE Wednesday, 10 July 2024
SPONSOR'S RATINGS A- (Agusto), AA- (Datapro)
FUND MANAGER'S RATING A (Agusto)
TARGET RETURN Up to 23% (i.e. 3% - 5% above 10-year Federal Government bond yield)
OFFER PRIZE N1,000,000
MINIMUM UNITS OF SALE N50,000,000 (50 units at N1,000,000/Unit and multiples of 25 units thereafter)
METHOD OF OFFER Offer for Subscription
TARGET INVESTORS QIIs (such as pension funds, asset managers, multilateral and international financing institutions, and insurance companies) and high net worth investors
TAXATION Applicable taxes shall apply except otherwise exempt

For more information on the offer, please refer to the offer documents listed below, which can be accessed by clicking the button below:
  • Series III Supplementary Prospectus
  • Shelf Prospectus
  • Series III Trust Deed
  • Investor Presentation
  • Custody Agreement
  • Sponsor's Rating Reports
  • Fund Manager's Rating Reports
  • PENCOM Certificate
CLICK-HERE-TO-VIEW-DOCUMENTS

For further enquiries, please do not hesitate to contact the undersigned or reach out to ProjectPlatinum@afrinvest.com.
 

 Kate Isabota

 Chiamaka Abuka

 Emmanuel Dada

 Raphael Nwokoye

 Investment Banking

 Investment Banking

 Investment Banking

 Investment Banking

 08138549554

 07033577247    

 09035481579    

 08128292468  

 KIsabota@afrinvest.com  

 CAbuka@afrinvest.com   

 EDada@afrinvest.com 

 RNwokoye@afrinvest.com   


We look forward to your participation in the investment opportunity.

Yours sincerely,

Ike Chioke
Group Managing Director
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Copyright © 2024 Afrinvest West Africa Limited, All rights reserved.


Our mailing address is:
Afrinvest West Africa Limited
Gerrard Rd 27
Ikoyi
Ikoyi 23401
Nigeria

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