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    Ariwoola sworn in as acting Chief Justice of Nigeria

    Ariwoola sworn in as acting Chief Justice of Nigeria

    Breaking: CJN Tanko Muhammad resigns

    Breaking: CJN Tanko Muhammad resigns

    We will support Ukraine in all forms “as long as it takes” – G7 Nations

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    Peaceful resolution of Russia-Ukraine conflict will cause more harm than good – UK Prime Minister

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    Russian ruble hits 7-Year high, threatening export competitiveness

    Russian ruble hits 7-Year high, threatening export competitiveness

    Inflation rate falls for 3 consecutive month

    Nigeria’s inflation rate rises to 11-month high

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s public debt rises by over N2 trillion in 3 months

    President Biden declare energy emergency with respect to electricity generation

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    Supply of Russian gas to Poland and Bulgaria halted by Gazprom

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    Nigeria’s Inflation rate hits16.47%, the highest since May 2017

    Inflation rate rises in April 2022 compared to March 2022 – NBS report

    “Unfriendly” countries will have to pay for Russian gas in rubles – Putin

    10 EU countries quietly buying Russian gas with rubles

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UBA redeems USD500 million 5-year Eurobond

Friday, 10 June 2022, 11:33 am
in Business, Companies
0
UBA suffers maximum possible loss on NSE as investors dump the stocks
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The United Bank for Africa Plc (NGX: UBA) has redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.

The Eurobond notes were issued in 2017 with a coupon rate of 7.75%.

UBA said it redeemed the notes on Wednesday June 8, 2022 in a document published on the Nigerian Exchange.

“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,” UBA stated.

Commenting on the development, Kennedy Uzoka, GMD/CEO of UBA said, “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.”

“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.

The equity price of UBA is up 1.30% at N7.80 per share on the floor of the Nigerian Exchange at the time of this report.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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