L-R: MD/CEO, UBA Cote d'Ivoire, Franklin Erebor
and MD/CEO, TD Continental, Sodjiedo Mian
L-R: GMD/CEO, Mr. Phillips Oduoza and Chief Executive Officer, Seplat Petroleum
Development Company Plc, Mr. Austin Avuru, at the signing ceremony
April - June 2015 •
The Lion King
• 29
UBA Cote d’Ivoire to support TD
Continental Plc
UBA leads $1.4 billion credit facility to Seplat Petroleum
UBA Cameroon
bags”Prepaid Card
Innovation of the
Year” award
News Roundup |
UBA News
Mr. Franklin Erebor, MD/CEO, UBA
Cote d'Ivoire, during the quarter,
paid a business visit to the Head
Office of TD Continental, a major
mining company in Cote d'Ivoire
that specializes in excavations
and exploitation of ores like dia-
mond and manganese.
Mr. Erebor met with the MD/CEO
of the company, Mr. Sodjiedo
Mian, and held discussions on
strengthening the bank’s business
relationship with the company.
Mr. Mian, while receiving UBA
CDI delegation talked about the
various ongoing projects of the
company, while requesting for
the support of UBA CDI to exe-
cute the projects.
TD Continental Plc specializes in
mining, aircraft leasing, sale and
installation of solar panels, air-
craft maintenance, engineering,
charters.
UBA Cameroon has become the
first bank in Africa to win the 2015
“Prepaid Card Innovation of the
Year” award given at the annu-
al Cards International Summit,
organized by VISA Inc in Dubai.
UBA Cameroon won the 2015
edition of the award ahead of
other banks from Africa.
Receiving the award on behalf of
UBA Cameroon, Head of e-bank-
ing sales, Gides Tsimene said,
“We are delighted to receive this
recognition of our passion, com-
mitment and dedication to offer-
ing first-rate services and market-
ing of prepaid cards to our long
list of customers.”
Oloyede Abimbola, Head of
Co-Branded Projects, UBA
Group, was also present at the
awards ceremony.
UBA acted as the facility agent
and mandated lead arranger in a
deal to syndicate $1.4 billion (N280
billion) in loans to Seplat Petroleum
Development Company Plc by
Nigerian banks.
The deal, which was signed on
Tuesday, April 21, 2015 at the Federal
Palace Hotel, will see the five banks
advance $700 million (N140 billion)
in medium term loans (7-year tenor)
and an additional $700 million, if
Seplat activates an Accordion option
attached to the facility.
Seplat intends to use the medium term
$700 million credit facility to refinance
existing facilities. The accordian facil-
ity will be used for acquisition, if acti-
vated.
Seplat is an independent indigenous
Nigerian upstream exploration and
production company with a focus on
Nigeria.
