Union Bank of Nigeria said it completed the full redemption of its Series Two 15.75 per cent Bond Issue on September 3, 2025, with the payment of both principal and coupon totalling N6.314 billion.
This payment fulfils the Bank’s obligations to bondholders in accordance with the regulations set by the Securities and Exchange Commission (SEC).
The Series Two Bond was issued under the Bank’s N100 billion Debt Issuance Programme and was fully subscribed. The final coupon payment was also settled on September 3, 2025.
This completion represents a significant achievement for Union Bank, particularly following the recent merger with Titan Trust earlier in September. The timely execution of coupon payments and the full redemption of the bond significantly enhance investor confidence in the Bank’s governance and financial stability, setting a positive precedent for future investment opportunities.
The head of Strategy and Planning at Union Bank, Tosin Ibikunle, stated, “The successful conclusion of the Bond Issue repayment process signals Union Bank’s commitment to meeting all obligations to our financial stakeholders. This accomplishment not only enhances investor confidence but also underscores the Bank’s robust financial position as we continue to innovate and support Nigeria’s growth.”
Union Bank’s compliance with SEC guidelines, alongside collaborations with ARM Trustees and UTL Trustees, reflects its commitment to regulatory excellence and stakeholder engagement. This reinforces investor trust in Union Bank’s financial integrity and commitment to sustainable growth.
Established in 1917, Union Bank provides financial services in Nigeria, renowned for its “Simpler, Smarter Banking” philosophy. With a nationwide network and a strong focus on digital innovation, Union Bank continues to empower individuals, businesses, and the public sector to achieve lasting success.
