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HomeCompany NewsUBA says paid back $500 mln 5-year Eurobond issued in 2017

UBA says paid back $500 mln 5-year Eurobond issued in 2017

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The United Bank for Africa Plc (UBA) has announced the redemption of its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.

In a regulatory filing with the Nigerian Exchange Limited (NGX), the lender said the redeemed debt was Issued in 2017, the five-year bond was offered at a coupon rate of 7.75 per cent.

The bank said as part of its liability management strategies, in November 2021, the Group repurchased $310.9 million of the notes through a cash tender offer.

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It said 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 the GMD/CEO of UBA, Kennedy Uzoka.

“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 stated.

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.

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