UBA LISTS N30.5BN ISSUE ON NSE and FMDQ

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United Bank for Africa (UBA) Plc’s N30.5bn
bond has been listed on the Nigerian Stock Exchange (NSE) and Nigeria’s premier
debt capital Securities Exchange, the Financial Market Dealers Quotation,
Over-the-Counter (FMDQ-OTC) market.
  The
dual listing was done on Wednesday April 8, 2015.
 
 r-l: Managing Director/CEO, FMDQ OTC Securities Exchange,
Mr. Bola Onadele Koko; Group Managing Director/CEO, UBA Plc, Mr. Phillips
Oduoza; Group CEO, United Capital Plc, Mrs Oluwatoyin Sanni, during the
official listing of N30.5bn UBA Bond, the pioneer corporate bond on the FMDQ
OTC Securities Exchange, in Lagos on Wednesday
 

 Listing on the NSE provides opportunity for
retail investors to take advantage of the fixed return on the investment grade
Notes, through the primary market whilst listing on the FMDQ will provide a
secondary market platform for institutional and foreign investors to trade UBA
Bond.
 The UBA Bond is the first corporate bond to be
admitted on the FMDQ platform and the first of its kind on a fixed income OTC
in Africa.  

 Chief Executive Officer, FMDQ-OTC Mr. Bola Onadele
Koko, commended UBA for being a pioneer in the market and reiterated the FMDQ’s
commitment to the development of the Nigerian financial markets, through its
efficient platform for the registration, listing, quotation and valuation of
bonds.

 He said the benefits of listing on FMDQ
include “global visibility and transparency, improved secondary market
liquidity, price formation and benchmark pricing thus resulting to a more
globally competitive capital market”.

 UBA, in December 2014, successfully raised
N30.5 Billion Tier-II Capital through the issuance of Seven-Year Fixed Rate
Unsecured Notes, maturing in 2021. “The bond issue was the biggest and most
successful in 2014. The success recorded at a time of uncertainty in the
capital market was largely due to the credibility and strength of the UBA
brand” said Mrs. Oluwatoyin Sanni, Group CEO, United Capital Plc and Issuers to
the Bond.

 Group Managing Director/Chief Executive
Officer, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, expressed delight
that the UBA Bond is the first to list on the FMDQ.

 “We were the first Nigerian bank to do an
Initial Public Offering (IPO) on the Nigerian Stock Exchange (NSE) after
successfully listing in 1971. We were also the first to issue Global Depository
Receipts (GDR) in 1998. We are always willing to explore new frontiers in our
quest to have an efficient market that meets our developmental needs” said
Oduoza. 
The UBA Group is a
diversified financial services provider and one of the largest financial
institutions in Africa, with presence in New York, Paris and London. “We will
utilize the proceeds of the Bond issue for long term commercial and retail
sector lending as well as the expansion of our delivery channels to provide
efficient banking services to our customers” he further stated.

According to the
UBA helmsman, the bank is committed to building a long term and sustainable
business and revealed that it will ensure proper utilization of the bond issue
to grow market share and profitability guided by a robust risk management
framework and strong corporate governance    

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