United Bank for Africa Plc (UBA) has notified the Nigerian Exchange Limited that it plans to issue a 5-year fixed rate benchmark dollar denominated Senior Unsecured offering under UBA’s Global Medium Term Note Programme, subject to market conditions.
In connection with the new bond offering, UBA proposes to redeem its outstanding $500mn 7.750% 2022 bonds and will announce a cash tender offer for any and all of the outstanding bonds.
UBA said that it has mandated Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, Standard Chartered Bank, and United Capital PLC as Joint Lead Managers to arrange a global investor call in addition to a series of fixed income investor meetings, commencing on November 8, 2021.
Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, and Standard Chartered Bank are dealer managers for the Tender Offer.