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United Bank for Africa to Issue US Denominated Senior Unsecured Bond

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UBA Insider dealings

The United Bank for Africa on Monday announced plans to issue a new senior unsecured bond with a 5-year maturity under its Global Medium Term Note Programme.

The leading financial institution disclosed in a statement forwarded to the Nigerian Exchange Limited and notified the bourse 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.

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.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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