Union Bank of Nigeria has successfully completed the redemption of its ₦6.314 billion Series 2 bond, fulfilling all principal and coupon obligations to bondholders on September 3, 2025.
The 15.75 per cent bond, issued under the bank’s ₦100 billion debt issuance programme, was fully subscribed at launch. Its timely settlement — including the final coupon payment — underscores the bank’s resilience and commitment to meeting its financial obligations, especially in the wake of its recent merger with Titan Trust Bank.
Tosin Ibikunle, Union Bank’s Head of Strategy and Planning, said the seamless completion of the repayment process reflects the bank’s governance standards and dedication to protecting investor interests. “This milestone reinforces our pledge to honour commitments and to drive sustainable value creation for stakeholders,” he said.
Union Bank credited the smooth execution to close collaboration with ARM Trustees and UTL Trustees, and to its adherence to Securities and Exchange Commission (SEC) regulations — a move analysts say strengthens market confidence and positions the lender for future fundraising opportunities.
Meanwhile, Nigerian equities extended gains yesterday, adding ₦144 billion to overall market capitalisation as investors took positions in Guinness Nigeria Plc and 29 other stocks.
The All-Share Index rose 226.84 points, or 0.16 per cent, to close at 142,263.07, while market capitalisation climbed to ₦90.01 trillion.
Guinness Nigeria led the gainers’ chart with a 10 per cent rise to ₦176 per share. Eunisell Interlinked followed with a 9.89 per cent increase to ₦30.55, while Regency Alliance Insurance advanced 9.82 per cent to ₦1.79. Other top performers included Thomas Wyatt Nigeria (+9.8 %) and McNichols (+9.58 %).
On the flip side, Consolidated Hallmark Holdings shed 7.59 per cent to close at ₦4.02, while The Initiates Plc dropped 7.48 per cent to ₦12. Sovereign Trust Insurance, Omatek Ventures and Wapic Insurance also recorded losses.
Sectoral performance was mixed: the banking index slipped 0.23 per cent and the insurance index fell 1.07 per cent, while consumer goods (+0.75 %), oil and gas (+0.28 %), industrial (+0.01 %) and commodities (+0.16 %) ended higher.
Market turnover declined sharply, with 325.11 million shares valued at ₦8.42 billion traded in 22,779 deals — down 67.6 per cent from the previous session. Access Holdings led activity with 37.24 million shares worth ₦1.01 billion, followed by Zenith Bank (24.27 million shares, ₦1.60 billion) and Fidelity Bank (20.51 million shares, ₦426 million). Secure Electronic Technology and Veritas Kapital Assurance rounded out the top five by volume.
