United Bank for Africa PLC (Nigeria) redeems its USD500 million 5-year Eurobond

By Published On: June 13th, 2022Categories: Corporate announcement

The United Bank for Africa Plc (“UBA” or the “Group”) on Wednesday 8th June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.

Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%.

As part of UBA’s liability management strategies, in November 2021, the Group repurchased $310.9 million of the notes through a cash tender offer. Upon maturity, the outstanding portion of $189.1 million and the coupon of $7.3 million were paid.

“The Group’s selective participation in international debt markets is a testament to UBA’s robust and prudent liquidity management strategies, coupled with a very strong and diversified asset and liability management process.” said Kennedy Uzoka, GMD/CEO of UBA.

“Our significant customer base, diversified geographical spread and multiple decades of proven track record, continue to ensure that UBA is the preferred destination for investors, individuals, and businesses alike,” Uzoka continued.

With presence in 20 African countries, including Nigeria, as well as operations in France, the UK and being the only sub-Saharan African bank with a deposit-taking licence in the USA, UBA is a leading African financial institution providing banking and financial services to over 33 million customers across the globe.

BILI A. ODUM
GROUP COMPANY SECRETARY

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

United Bank for Africa PLC (UBA.ng)

Share price: 8.40 NGN (0.00 | 0.00% – 07/02/23)

Sign up for Email Alerts

Recent Documents & News