{"id":73792,"date":"2022-06-13T11:46:12","date_gmt":"2022-06-13T11:46:12","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=93256"},"modified":"2022-06-13T11:46:12","modified_gmt":"2022-06-13T11:46:12","slug":"the-united-bank-for-africa-uba-redeems-usd500-million-5-year-eurobond","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/the-united-bank-for-africa-uba-redeems-usd500-million-5-year-eurobond\/","title":{"rendered":"The United Bank for Africa (UBA) redeems USD500 million 5-year Eurobond"},"content":{"rendered":"<p><strong>\u00a0<em>Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%<\/em><\/strong><\/p>\n<p>LAGOS, NIGERIA &#8211; EQS Newswire &#8211; 13 June 2022 &#8211; The United Bank for Africa Plc (\u201cUBA\u201d or the \u201cGroup\u201d) (<a href=\"http:\/\/www.ubagroup.com\/\">www.UBAGroup.com<\/a>) on Wednesday 8<sup>th<\/sup> June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.<\/p>\n<p>Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%.<\/p>\n<p>As part of UBA\u2019s liability management strategies, in November 2021, the Group repurchased $310.9 million of the notes through a cash tender offer.\u00a0 Upon maturity, the outstanding portion of $189.1 million and the coupon of $7.3 million were paid.<\/p>\n<p>&#8220;The Group\u2019s selective participation in international debt markets is a testament to UBA\u2019s robust and prudent liquidity management strategies, coupled with a very strong and diversified asset and liability management process.&#8221; said Kennedy Uzoka, GMD\/CEO of UBA.<\/p>\n<p>\u201cOur 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,\u201d Uzoka continued.<\/p>\n<p>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.<\/p>\n<p>Download image: <a href=\"https:\/\/bit.ly\/3NNqVvL\">https:\/\/bit.ly\/3NNqVvL<\/a><\/p>\n<p>Media Contact<\/p>\n<p><a href=\"mailto:marie@apo-opa.com\">marie@apo-opa.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Issued in 2017, the five-year bond was offered at a coupon rate of 7.75% LAGOS, NIGERIA \u2013 EQS Newswire \u2013 13 June 2022 \u2013 The United Bank for Africa Plc (\u201cUBA\u201d or the \u201cGroup\u201d) (www.UBAGroup.com) on Wednesday 8th June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022. Issued [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,343],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The United Bank for Africa (UBA) redeems USD500 million 5-year Eurobond - Lebanon News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lebanonnewsgazette.com\/the-united-bank-for-africa-uba-redeems-usd500-million-5-year-eurobond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The United Bank for Africa (UBA) redeems USD500 million 5-year Eurobond - Lebanon News Gazette\" \/>\n<meta property=\"og:description\" content=\"\u00a0Issued in 2017, the five-year bond was offered at a coupon rate of 7.75% LAGOS, NIGERIA \u2013 EQS Newswire \u2013 13 June 2022 \u2013 The United Bank for Africa Plc (\u201cUBA\u201d or the \u201cGroup\u201d) (www.UBAGroup.com) on Wednesday 8th June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022. 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