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Saturday, November 26, 2022

The United Bank for Africa (UBA) redeems USD500 million 5-year Eurobond

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The United Financial institution for Africa Plc (“UBA” or the “Group”) (www.UBAGroup.com) 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 supplied at a coupon charge of seven.75%.

As a part of UBA’s legal responsibility administration methods, in November 2021, the Group repurchased $310.9 million of the notes by a money tender supply.  Upon maturity, the excellent portion of $189.1 million and the coupon of $7.3 million had been paid.

“The Group’s selective participation in worldwide debt markets is a testomony to UBA’s strong and prudent liquidity administration methods, coupled with a really robust and diversified asset and legal responsibility administration course of.” mentioned Kennedy Uzoka, GMD/CEO of UBA.

“Our important buyer base, diversified geographical unfold and a number of many years of confirmed monitor report, proceed to make sure that UBA is the popular vacation spot for traders, people, and companies alike,” Uzoka continued.

With presence in 20 African nations, together with Nigeria, in addition to operations in France, the UK and being the one sub-Saharan African financial institution with a deposit-taking licence within the USA, UBA is a number one African monetary establishment offering banking and monetary providers to over 33 million prospects throughout the globe.

Distributed by APO Group on behalf of United Financial institution for Africa Plc (UBA).

This Press Launch has been issued by APO. The content material is just not monitored by the editorial crew of African Enterprise and never of the content material has been checked or validated by our editorial groups, proof readers or reality checkers. The issuer is solely liable for the content material of this announcement.

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