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Business News of Thursday, 9 June 2022

Source: www.thenationonlineng.net

UBA redeems $500m five-year Eurobond notes

United Bank for Africa (UBA) United Bank for Africa (UBA)

United Bank for Africa (UBA) has redeemed its debut $500 million five-year Eurobond notes which matured yesterday.

The Eurobond notes, issued in 2017, were offered at a coupon rate of 7.75 per cent.

The bond was raised to support the bank’s business in key sectors of the economy.

UBA had last November repurchased $310.9 million of the notes through a cash tender offer, in line with its liability management strategies.