Union Bank fulfils N6.3bn obligations to bondholder

Union Bank of Nigeria has completed the full redemption of its Series 2 15.75 percent Bond Issue with the payment of both principal and coupon totalling N6.314 billion on September 3, 2025.

This payment fulfils the bank’s obligations to bondholders in accordance with the regulations set by the Securities and Exchange Commission (SEC).

The Series 2 Bond was issued under the bank’s N100 billion Debt Issuance Programme and was fully subscribed, with the final coupon payment 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 early 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.

Tosin Ibikunle, Head of Strategy and Planning, Union Bank remarked on this milestone, stating: “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, reinforcing investor trust in its financial integrity and commitment to sustainable growth.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.