Bank says it’s validation of pan-African growth strategy

The United Bank for Africa Plc (UBA) has announced that it has successfully raised $500 million though a debut Eurobond, which was 240 per cent oversubscribed.


The bank, in a statement Monday, said the significant investor demand reflected the strong global investor appetite for UBA’s credit and support for the group’s pan-African financial services strategy.
The global offering was a five-year senior unsecured benchmark bond listed on the Irish Stock Exchange and will further support the group’s strategic vision, as it continues to grow its franchise across the continent and client segments.

The bond, which is rated by both Fitch (B, stable outlook) and S&P (B, stable outlook), will mature in June 2022 and was issued with a coupon rate of 7.75%, priced at an effective yield of 7.875%.
This pricing was seen by the global investor community as the best possible pricing for a debut issue from a Nigerian-based financial institution in the international market.

The pricing was at par with the recent bond issue by Nigeria, which raised $1 billion in February 2017.
According to the statement, investor interest was global, including from the United Kingdom, Europe, Asia, the Middle East and the U.S.

Speaking on the offering, the Group Managing Director/CEO of UBA, Mr. Kennedy Uzoka, stated: “This successful dollar-denominated offering further illustrates global investor confidence in the strong fundamentals of our group.
“The $500 million bond will complement our stable funding base and support the growth of our balance sheet and the overall business. More importantly, this medium-term funding will further enhance our strength in financing profitable, impactful projects on the African continent.”

Also commenting, the Group CFO, Mr. Ugo Nwaghodoh, said: “UBA’s debut global offering is another milestone for us. It is timely in the group’s growth phase and aligns with our strategic plan to profitably grow the balance sheet, as we maintain our prudent risk management and benchmark asset quality ratios.”

UBA is a leading pan-African financial institution, offering banking services to more than 14 million customers across over 1,000 business offices and customer touch points in 19 African countries.
With presence in New York, London and Paris, UBA connects people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services, the statement said.

Source: https://brandspurng.com/ubas-debut-500m-eurobond-oversubscribed-by-240/

Cc; lalasticlala, Mynd44, Seun, Fynestboi, Obinoscopy, ishilove, adewasco2k, Slyr0x

johluv:
FTC finally ;DFTC finally

---

come baq tomorrow

I also give the Hausa/ Fulani quit notice to leave Enugu.

FTC finally ;DFTC finally

HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

Yield of 7.875%. what? There is no where in EU or US you can get a yield of 3% from any financial institution . They want us to work and they will collect interest for doing nothing. Modern day slavery

Its rated at B, so not even the lowest IG BBB-, thus a junk bond. Beware of what you buy is the moral of the story as private investor.

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

pele mehn

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

pele mehn

I don't even understand all d grammars because I'm not into banking system... #Isupport

icemann:
Yield of 7.875%. what? There is no where in EU or US you can get a yield of 3% from any financial institution . They want us to work and they will collect interest for doing nothing. Modern day slavery

Discretionary investment. Right?

MONEY EVERYWHERE

Reduce your dollar to 300#/$1

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

rubbish. why don't you tell us their population s? you think your people will come and overpopulate our land and then you get the same share with us?

Okay....... i suppose thats good news to them or something similar... after a friend lost N10m to keystone which rose tissue papers is worth more than now.. believe not what you see on paper.. verify from your personal stock brocker..

ride on Giant Bank Of Africa

RichFoundation:
I also give the Hausa/ Fulani quit notice to leave Enugu.

How does this relate to the thread

veekid:

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come baq tomorrow

Epic...

johluv:
FTC finally ;DFTC finally

TTC

Is it only me that's finding it difficult to understand this

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

So Bad...

amosyanyan:
Is it only me that's finding it difficult to understand this

Develop your financial literacy,it increases financial intelligence which is more important than intelligence quotient.

You do not have oil in the EAST ......SOUTH SOUTH Got the commercial quantity of oil readily available for export

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

Can you show us the entire budget and the source of your information? You constantly have the need to validate this "they hate me" mindset.

Dont allow politicans like ekweremadu chopping Nigeria money to brainwash you and set you against others.

I personally find this site very resourceful in terms of Banking, Insurance and finance news, articles and opinion.

https://brandspurng.com/category/banking-insurance/

Ok

I'm ok with my FGN bonds, thank you, alakoba.
The more you look, the less you see

obaival:
HERE'S ONE NIGERIA YOU AGITATING FOR.

2017 BUDGET ALLOCATIONS FOR CAPITAL PROJECTS.

North Central - N209 billion
North West - N73.7 billion
South West - N48.97 billion
North East - N46.69 billion
South South - N35.31 billion
South East - N28.22 billion

How is Nigeria one nation? You will get 90℅ of the fund from the Oil rich Niger-Delta yet give them the least allocation for capital projects! This is an abnormal society.

Now, you know why they shout One Nigeria.

Copied.

Nigeria is a joke, They hate each other, but only shout one Nigeria because of crude oil, the day they succeed in finding alternative to crude oil is the day Nigeria will agree to divide

deji15:


Can you show us the entire budget and the source of your information? You constantly have the need to validate this "they hate you" mindset.

Dont allow politicans like ekweremadu chopping Nigeria money to brainwash you and set you against others.

What he said is the truth,
all oil companies head quaters are in Lagos state, is that not weird

Ezechinwa:



What he said is the truth,
all oil companies head quaters are in Lagos state, is that not weird

No, it is far from the truth. Oil company administrative headquarters located in Lagos does not mean that oil money stays in Lagos. Peaceful atmosphere and other economic factors in Lagos must have informed the decision from oil companies to site their headquarters in Lagos. Ditto for many other business investors including other Nigerians who have business interest in Lagos. SS still retains their 13% oil derivation and budget allocation to NDDC.

icemann:
Yield of 7.875%. what? There is no where in EU or US you can get a yield of 3% from any financial institution . They want us to work and they will collect interest for doing nothing. Modern day slavery

Bonds are ponzi schemes. By 2022 they ll be paid back by other peoples money and the cycle continues

eezeribe:

Develop your financial literacy,it increases financial intelligence which is more important than intelligence quotient.

Still not understanding biko come down to my level