
CP- UNION BANK
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Dear Investor,
kindly be informed that the pricing for the Series 2 offer, under the Union Bank of Nigeria PLC N100bn CP Issuance Programme has been reviewed. In addition, the offer closing date has also been extended to Tuesday, 29 January 2019 with the funding date now scheduled for Wednesday, 30 January 2019.
Please find below the updated summary of the offer, with reviewed terms highlighted:
Issuer: | Union Bank of Nigeria PLC | |
Series: | 1 | 2 |
Tenor: | 90-days | 181-days |
Target Size: | Up to NGN20 billion across both tenors | |
Discount Rate: | 12.83% | 14.82% |
Implied Yield: | 13.25% | 16.00% |
Offer Opens: | Tuesday, 22 January 2019 | |
Offer Closes: | Tuesday, 29 January 2019 | |
Settlement Date: | Wednesday, 30 January 2019 | |
Issuer Rating: | A- (Agusto & Co.); BBB+ (GCR) | |
Minimum Subscription: | NGN5 million | |
Tax Consideration: | Free and clear of withholding taxes |