Union Bank of Nigeria has successfully completed the full redemption of its Series 2 15.75 per cent bond issue with the payment of both principal and coupon totalling N6.31bn on September 3, 2025.
The payment fulfils the bank’s obligations to bondholders in line with the regulations of the Securities and Exchange Commission.
In a statement recently, the Series 2 bond was issued under the bank’s N100bn Debt Issuance Programme and was fully subscribed, with the final coupon payment also settled on September 3, 2025.
The completion of the bond redemption marks an achievement for Union Bank, particularly following its recent merger with Titan Trust in early September. According to the bank, the timely execution of coupon payments and the full redemption of the bond have boosted investor confidence in its governance and financial stability, setting a positive precedent for future capital market engagements.
Commenting on the milestone, Union Bank’s Head of Strategy and Planning, Tosin Ibikunle, said the successful conclusion of the bond repayment process signals the bank’s strong commitment to 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,” he stated.
Union Bank noted that the process was carried out in strict compliance with SEC guidelines, in collaboration with ARM Trustees and UTL Trustees, further demonstrating its dedication to regulatory excellence and sustainable growth.
With the Series 2 bond redemption, Union Bank has reinforced its position as a resilient financial institution while setting the stage for renewed investor trust in its long-term strategies.
