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NSE Lists N 35 billion worth of UBA Bonds

By on January 16, 2012

The Nigerian Stock Exchange (NSE) has listed N 35 Billion worth of UBA Bonds, bringing the total number of Corporate Bonds on its register to 13.

The Bond has a coupon of 14% and is due in 2018.

The bond was fully subscribed to by six applicants last year.

This is the second tranche of a N 400 billion bond issuance program in place by the bank.  In 2010, the bank issued N 35 billion worth of bonds, falling due in 2017 and carrying a coupon rate of 13%.

Late last year, UBA shareholders approved the restructuring of the company into a holding company, one of the intermediate companies to be held by the parent company will be UBA Plc, comprising the Nigerian banking units, the branch in New York and the bank’s FX mart.

  • Komeno2004

    How do someone access these bonds