FirstCap Limited Joins Veritasi Homes’ ₦30bn Bond Programme as Joint Issuing House

FirstCap Limited, the investment banking subsidiary wholly owned by FirstHoldCo Plc, has acted as Joint Issuing House and Placing Agent on Veritasi Homes & Properties Plc’s ₦10 billion Series 1 Bond issuance, under the company’s ₦30 billion Bond Programme registered with the Securities and Exchange Commission (SEC).

The Bond Programme is structured to fund the development of Project Oyster Towers, a premium residential project located in Eko Atlantic City. Proceeds from the Series 1 issuance are expected to be deployed towards the construction of 30 luxury residential units, forming part of a wider 82-unit development made up of one-bedroom, two-bedroom, and three-bedroom apartments.

Veritasi Homes & Properties Plc is an indigenous real estate development company with operations across Lagos State and the Federal Capital Territory, Abuja. The company has continued to build a solid reputation through the delivery of residential real estate projects across Nigeria.

Commenting on the transaction, Ukandu E. Ukandu, Managing Director/Chief Executive Officer of FirstCap Limited, stated “We are proud to partner with Veritasi Homes & Properties Plc on this important transaction. The establishment of the ₦30 billion Bond Programme reflects our commitment to mobilising capital for the real estate sector, which remains a key driver of Nigeria’s economic growth. Project Oyster Towers exemplifies the future of luxury and sustainable living in Nigeria, and this transaction reinforces FirstCap’s role as a trusted advisor in major corporate finance initiatives.”

FirstCap said its role in the Bond Programme underscores its ongoing commitment to supporting the growth of Nigeria’s real estate sector. The successful execution of the transaction also highlights the depth of expertise within the firm’s capital markets team, as well as its capability to help issuers access long-term funding solutions aligned with strategic business objectives.

By continuing to connect capital providers with high-impact infrastructure and real estate developments such as Project Oyster Towers, the firm remains focused on driving economic development and delivering long-term value for stakeholders, Ukandu added.