Union Bank Nigeria Redeems N6.3bn Bond, Boosts Investor Confidence

Union Bank Nigeria has successfully redeemed a N6.3 billion bond, boosting investor confidence. The full redemption of the Series Two percent Bond Issue due on September 3, 2025, included the payment of the principal and coupon totaling N6.3 billion.

This payment fulfills the bank's obligations to bondholders as regulated by the Securities and Exchange Commission (SEC). The Series Two Bond was issued under a N100 billion Debt Issuance Programme and was fully subscribed.

The completion of this redemption is a significant achievement for Union Bank, especially after its recent merger with Titan Trust. This move is expected to enhance investor confidence in the bank's governance, financial stability, and future investment opportunities.