Union Bank of Nigeria has completed the full redemption of its series 2 15.75 per cent bond issue with the payment of both principal and coupon totalling N6,314,000,000 on September 3, 2025.

The payment fulfils the bank’s obligations to bondholders in accordance with the regulations set by the Securities and Exchange Commission (SEC).

The series 2 bond was issued under the bank’s N100 billion debt issuance programme and was fully subscribed, with the final coupon payment also settled on September 3, 2025.

This completion represents a significant achievement for Union Bank, particularly following the recent merger with Titan Trust earlier in September.

The timely execution of coupon payments and the full redemption of the bond significantly enhance investor confidence in the bank’s governance and financial stability, setting a positive precedent for future investment opportunities.

The bank’s Head of Strategy and Planning, Tosin Ibikunle, said the successful conclusion of the bond issue repayment process signals Union Bank’s commitment to meeting all obligations to its financial stakeholders.

Union Bank’s compliance with the SEC guidelines, alongside collaborations with ARM Trustees and UTL Trustees, reflects its commitment to regulatory excellence and stakeholder engagement, reinforcing investor trust in its financial integrity and commitment to sustainable growth.

Meanwhile, Nigerian equities yesterday extended gains from the previous session as the overall capitalisation rose by N144 billion, driven by a rally in Guinness Nigeria Plc and 29 others.

The All-Share Index (ASI) rose by 226.84 points, representing a gain of 0.16 per cent to close at 142,263.07 points. Also, market capitalisation gained N144 billion to close at N90.01 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks, amongst which are Guinness Nigeria, Aradel Holdings, Eunisell Interlinked, Dangote Sugar Refinery and Nigerian Aviation Handling Company (NAHCO).

As measured by market breadth, market sentiment closed positive, as 30 stocks gained relative to 20 losers. Guinness Nigeria emerged as the highest price gainer of 10 per cent to close at N176.

Eunisell Interlinked followed with a gain of 9.89 per cent to close at N30.55 kobo, while Regency Alliance Insurance advanced by 9.82 per cent to close at N1.79 kobo.

Thomas Wyatt Nigeria rose by 9.8 per cent to close at N2.69, while McNichols went up by 9.58 per cent to close at N3.89 kobo.

On the other side, Consolidated Hallmark Holdings led others on the losers’ chart with 7.59 per cent to close at N4.02 per share. The Initiates Plc (TIP) followed with a decline of 7.48 per cent to close at N12, while Sovereign Trust Insurance shed 6.21 per cent to close at N2.87.

Omatek Ventures lost 5.17 per cent to close at N1.10, while Wapic Insurance depreciated by 4.19 per cent to close at N3.20.

Sectoral performance was mixed as the banking sector declined by -0.23 per cent, while the Insurance sector also recorded a loss of -1.07 per cent.

However, the consumer goods sector gained +0.75 per cent, the oil and gas sector increased by +0.28 per cent, the industrial sector appreciated slightly by +0.01 per cent, and the commodity sector closed higher by +0.16 per cent. This performance reflects a divergent trading sentiment across key sectors of the market.

The total volume traded declined by 67.64 per cent to 325.112 million units, valued at N8.418 billion, and exchanged in 22,779 deals. Transactions in the shares of Access Holdings led the activity with 37.244 million shares worth N1.008 billion.

Zenith Bank followed with an account of 24.27 million shares valued at N1.604 billion, while Fidelity Bank traded 20.512 million shares valued at N426.008 million.

Secure Electronic Technology traded 19.799 million shares worth N15.968 million, while Veritas Kapital Assurance traded 14.907 million shares worth N32.903 million.