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UBA’S DEBUT $500M EUROBOND OVERSUBSCRIBED 240% BY GLOBAL INVESTORS, FURTHER VALIDATION OF UBA’S PAN-AFRICAN GROWTH STRATEGY

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United Bank for Africa Plc (UBA) successfully raised USD500 million, though a debut Eurobond, which was 240% over-subscribed. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark bond (144A/Reg S) listed on the Irish Stock Exchange and will further support the Group’s strategic vision, as it continues to grow its franchise across the continent and client segments.

 

The bond, which is rated by both Fitch (B, stable outlook) and S&P (B, stable outlook), matures in June 2022 and was issued with a coupon rate of 7.75%, priced at an effective yield of 7.875%. This pricing is seen by the global investor community as the best possible pricing for a debut issue from a financial institution of Nigerian origin in current markets. The pricing was at par to the recent bond issue by the Federal Republic of Nigeria, which issued USD1 billion in February 2017.

 

Investor interest was global, including the United Kingdom, Europe, Asia, the Middle East and the US.

 

Speaking on the offering, the Group Managing Director/CEO of UBA Plc, Mr. Kennedy Uzoka stated: “This successful dollar-denominated offering further illustrates global investor confidence in the strong fundamentals of our Group. The USD500 million bond will complement our stable funding base and support the growth of our balance sheet and the overall business. More importantly, this medium-term funding will further enhance our strength in financing profitable, impactful projects on the African continent.”

 

Also commenting on the Eurobond, the Group CFO, Mr. Ugo Nwaghodoh said: “UBA’s debut global offering is another milestone for us. It is timely in the Group’s growth phase and aligns with our strategic plan to profitably grow the balance sheet, as we maintain our prudent risk management and benchmark asset quality ratios.”

 

The United Bank for Africa Plc is a leading pan-African financial institution, offering banking services to more than 14 million customers, across over 1,000 business offices and customer touch points in 19 African countries. With presence in New York, London and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services.

 

 

 

 

 

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NASRE Foundation Spreads Yuletide Cheer, Supports Veterans and Media Community

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NASRE Foundation Spreads Yuletide Cheer, Supports Veterans and Media Community

NASRE Foundation Spreads Yuletide Cheer, Supports Veterans and Media Community

 

 

Sahara Weekly Reports That The Nigerian Association of Social And Resourceful Editors (NASRE) has once again demonstrated its commitment to uplifting the media community by distributing Yuletide gifts to veterans, families of deceased journalists, and other beneficiaries.

 

NASRE Foundation Spreads Yuletide Cheer, Supports Veterans and Media Community

 

In its annual outreach, NASRE provided food items and cash support to families in Lagos and Ogun states. Recipients included Folusho Samuel, Thomas Peter, Qudus Adewole (Ebony), Simeon Ugwu, Niyi Agboola, and Mrs. Adewunmi, among others.

 

 

Speaking on the initiative, NASRE President Comrade Femi Oyewal, highlighted the association’s dedication to supporting its members and their families, particularly during festive seasons.

 

 

“This is a time for giving and reflection. At NASRE, we are committed to showing our veterans and their families that their sacrifices and contributions to society are deeply valued. Beyond festive seasons, we strive to impact lives meaningfully throughout the year,” Oyewale said.

 

 

One of the beneficiaries, Mrs. Thomas, expressed heartfelt appreciation, saying: “NASRE’s support reminds us that our efforts in the media community are not forgotten. These gestures of kindness mean so much to us, and we are truly grateful.”

 

 

The foundation also took the opportunity to recognize the crucial role of the media in nation-building. It extended its gratitude to media practitioners for their hard work and dedication, while wishing them a joyful and prosperous festive season.

 

 

NASRE’s annual gesture underscores its role as a pillar of support within the media community, fostering unity, compassion, and appreciation for the contributions of its members.

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Seyi Tinubu gave me a terrible Christmas -prophet Ikuru

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The prophetic hall of fame, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry has reacted to the cold reception and rejection he recieved from the son the son of the president,seyi Tinubu on Christmas day.

 

Speaking about the incident, the prophet reiterated that he felt Insulted by seyi Tinubu’s cold reception towards him on Christmas day ” i had a terrible Christmas and it was caused by Seyi Tinubu,I called him to wish him merry Christmas and he told me that he doesn’t know me,I really felt deeply insulted because we know eachother even if he wasn’t in a good mood that yesterday,he shouldn’t have denied knowing Me because i fought and went through a lot because of the father and he’s aware of everything, denying me is not necessary,it was intensely excruciating because it was a Christmas day ”

 

Prophet Ikuru is a staunch supporter and defender of the president, Ahmed Bola Tinubu , he’s the major prophet that prophesied that Tinubu was going to become the president and fascinated immense attacks and hatred for that ,he also escaped assassination for the sake of the president

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Prophet Ikuru bombarded with calls from opposition parties to join them against 2027

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By Collins Nkwocha

 

 

Prophet Godwin Ikuru has cemented his position as one of the leading prophets on the African continent, as an integral part of APC , the prophetic hall of fame never hid his love for the president, Ahmed Bola Tinubu whom he prognosticated into power and fought several battles for his sake

 

It’s alarming to discover that several political parties are wooing the handsome prophet against 2027 as they believe that his true potential is being underutilised in APC who left him without a portfolio,they kept bombarding him with numerous calls for him to leave the ruling party and join them against 2027

 

Despite the numerous calls and emissaries sent by the opposition parties,the prophetic hall of fame has kept faith with APC because of the unending love he has for Mr.president,Asiwaju Bola Ahmed Tinubu as he’s willing to remain with him despite all the happenings and odds.

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