10 •
The Lion King
• April - June 2015
On the NSE and FMDQ
U
BA, in December 2014, had success-
fully raised N30.5 Billion bond through
the issuance of Seven-Year Fixed Rate
Unsecured Notes, maturing in 2021.
The listing of the N30.5 billion 7-year tenor bond
is the first corporate bond to be admitted on
the FMDQ platform following the approval of
the FMDQ Bond Listing and Quotation Rules
by the Securities and Exchange Commission
(SEC) in December last year.
UBA decided to list the Bond on both the
FMDQ-OTC and the NSE to ensure adequate
liquidity for investors. The FMDQ-OTC will
L-R: Group CEO, United Capital Plc, Mrs. Oluwatoyin Sanni; Group Managing Director/CEO, UBA
Plc, Mr. Phillips Oduoza; and Managing Director/CEO, FMDQ OTC Securities Exchange, Mr. Bola
Onadele Koko during the official listing of N30.5bn UBA Bond.
serve the liquidity need of institutional inves-
tors, being the most liquid platform for fixed
income instruments in the Nigerian capital
market.
The listing on the FMDQ-OTC platform will
also avail foreign investors the opportu-
nity to participate in the Nigerian corporate
bond market, through investment grade
Notes, such as UBA Bond Series 3.
In addition, the listing of the bonds on the
NSE provides an opportunity for retail inves-
tors to take advantage of the fixed return on
these investment grade Notes, through the
secondary market.
Being a relatively long term fund, the pro-
ceeds from the Bond deepens UBA’s long
tenored funding base and enhances the
appetite and ability of UBA to support
the real sector of the Nigerian economy,
through responsible and sustainable lend-
ing. This will undoubtedly boost its capitaliza-
tion and reinforce its growth potential.
The UBA bond listing was sponsored by
issuing and financial advisory firm, United
Capital Plc.
The UBA Group is a highly diversified finan-
cial services provider and one of the largest
financial institutions in Africa, with presence
in New York, Paris and London.
UBA has a strong retail penetration across
the African continent where it controls sig-
nificant market share. Over eight million
customers enjoy the bank’s robust bouquet
of products and services, tailored to meet
their financial needs.
UBA in first dual
corporate bond listing
United Bank for Africa (UBA) Plc, on Wednesday, April 8, 2015, became the first
Nigerian company to complete a dual listing of its corporate bond on the on
the Financial Market Dealers Quotation Over-the-Counter (FMDQ-OTC)market
and the NSE Nigerian Stock Exchange (NSE). The FMDQ is Nigeria’s foremost
debt capital securities exchange.
Milestone
|
UBA in first dual bond listing
