Union Bank bond redemption completed with N6.31bn payout, reinforcing investor confidence and financial resilience post-merger

Union Bank bond redemption has been successfully concluded with a total payout of ₦6.31 billion, covering both principal and coupon obligations on its Series 2 15.75% bond.

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The payment was made on 3 September 2025, marking a crucial milestone in the bank’s financial journey and reaffirming its commitment to stakeholders.

Issued under the ₦100 billion Debt Issuance Programme, the Series 2 bond was fully subscribed and has now been fully redeemed in line with the rules of the Securities and Exchange Commission.

The bank also settled the final coupon on the same date.

This move follows Union Bank’s recent merger with Titan Trust earlier in September and is seen as a strong signal of stability and governance strength at a time of significant corporate transition.

In a statement, Tosin Ibikunle, Head of Strategy and Planning at Union Bank, said the redemption reflects the bank’s “robust financial position” and underlines its ability to execute complex financial commitments with precision.

“This accomplishment not only enhances investor confidence but also underscores the bank’s financial strength as we continue to innovate and support Nigeria’s growth,” he said.

The redemption was carried out in full compliance with SEC guidelines, working in partnership with ARM Trustees and UTL Trustees, ensuring transparency and regulatory excellence throughout the process.

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With this redemption, Union Bank bond redemption has once again demonstrated the institution’s resilience, strategic focus, and commitment to sustainable growth—setting a compelling precedent for future engagements in the capital market.