UBA Plc Notifies of Its Senior Unsecured Note Issuance With a 5-Year Maturity


Monday, November 08, 2021 / 11:00 AM / by NGX / Header Image Credit: UBA Group

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United Bank for Africa Plc ("UBA) hereby notifies the Nigerian Exchange Limited that it has mandated Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, Standard Chartered Bank, and United Capital PLC as Joint Lead Managers to arrange a global investor call in addition to a series of fixed income investor meetings (each of which will not constitute a public offer in Nigeria) commencing on November 8, 2021. A 5-year fixed-rate benchmark USD denominated Regulation S/144A Senior Unsecured offering under UBA's Global Medium Term Note Programme may follow, subject to market conditions.


In connection with the new bond offering, UBA proposes to redeem its outstanding US$500mn 7.750% 2022 bonds (US91339TAA51 | XS1623828966) and will announce today a cash tender offer for any and all of the outstanding bonds (the “Tender Offer”). Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, and Standard Chartered Bank are dealer managers for the Tender Offer.


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