Union Bank of Nigeria has successfully redeemed its Series 2, 15.75 per cent bond, settling both principal and coupon payments amounting to N6.31bn on September 3, 2025.The redemption, which marks the full repayment of obligations under the Series 2 issuance, was executed in line with regulations set by the Securities and Exchange Commission (SEC). The bond, issued under the bank’s N100bn Debt Issuance Programme, had been fully subscribed, with the final coupon disbursed on the same day.
According to the bank, the transaction demonstrates its financial resilience, governance standards, and commitment to investor trust. The development comes less than a month after Union Bank concluded its merger with Titan Trust Bank, a move that has further strengthened its capital structure and operational scale.Union Bank stated that the successful redemption highlights its ability to meet obligations promptly while maintaining stability in a competitive financial landscape.
The process, carried out in collaboration with ARM Trustees and UTL Trustees, was said to reflect the bank’s strict adherence to regulatory requirements and commitment to transparency in capital market dealings.Speaking on the achievement, Union Bank’s Head of Strategy and Planning, Tosin Ibikunle, said the milestone was a testament to the institution’s strong fundamentals and future outlook.
“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,” Ibikunle noted.Market analysts have described the redemption as a confidence-boosting signal to stakeholders, particularly at a time when investors are closely watching the performance of Nigerian banks amid reforms in the financial services sector. They noted that the timely repayment will likely bolster Union Bank’s credibility in future capital raising efforts.The bank added that it remains committed to sustainable growth, strategic innovation, and long-term value creation for shareholders and stakeholders, positioning itself as a resilient financial institution capable of adapting to evolving market dynamics.With the completion of this bond redemption, Union Bank has not only reaffirmed its resilience but also set a positive precedent for investor engagement in Nigeria’s capital market.
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Union Bank Settles #6.31bn Series 2 Bond, Boost Market Trust
Union Bank of Nigeria has successfully redeemed its Series 2, 15.75 per cent bond, settling both principal and coupon payments amounting to N6.31bn on
