1 month ago
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Union Bank of Nigeria said it completed the afloat redemption of its Series Two 15.75 per cent Bond Issue connected September 3, 2025, with the outgo of some main and coupon totalling N6.314 billion.
This outgo fulfils the Bank’s obligations to bondholders successful accordance with the regulations acceptable by the Securities and Exchange Commission (SEC).
The Series Two Bond was issued nether the Bank’s N100 cardinal Debt Issuance Programme and was afloat subscribed. The last coupon outgo was besides settled connected September 3, 2025.
This completion represents a important accomplishment for Union Bank, peculiarly pursuing the caller merger with Titan Trust earlier successful September. The timely execution of coupon payments and the afloat redemption of the enslaved importantly heighten capitalist assurance successful the Bank’s governance and fiscal stability, mounting a affirmative precedent for aboriginal concern opportunities.
The caput of Strategy and Planning astatine Union Bank, Tosin Ibikunle, stated, “The palmy decision of the Bond Issue repayment process signals Union Bank’s committedness to gathering each obligations to our fiscal stakeholders. This accomplishment not lone enhances capitalist assurance but besides underscores the Bank’s robust fiscal presumption arsenic we proceed to innovate and enactment Nigeria’s growth.”
Union Bank’s compliance with SEC guidelines, alongside collaborations with ARM Trustees and UTL Trustees, reflects its committedness to regulatory excellence and stakeholder engagement. This reinforces capitalist spot successful Union Bank’s fiscal integrity and committedness to sustainable growth.
Established successful 1917, Union Bank provides fiscal services successful Nigeria, renowned for its “Simpler, Smarter Banking” philosophy. With a nationwide web and a beardown absorption connected integer innovation, Union Bank continues to empower individuals, businesses, and the nationalist assemblage to execute lasting success.
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