Firm News
| Templars Advises on UBA plc’s US$2.6 billion MTN Programme |
| Posted on: 23/11/2011 |
Templars has advised the joint underwriters, Standard Bank, Standard Chartered, First Bank, First Securities Discount House and Greenwich Trust, along with UBA Capital as lead issuing house, on the issue of US$226 million (NGN35 billion) seven-year 14 per cent fixed rate subordinated unsecured notes due 2018 by United Bank for Africa (UBA) plc.
The notes, which are listed on the Nigerian Stock Exchange, were the second issue under a US$2.6 billion (NGN400 billion) medium term note programme established in 2010 by UBA which is one of Nigeria’s largest banks and the third largest banking group in Africa with operations in 19 countries across the continent and a presence in New York, London and Paris.
The Templars team was led by finance partner Chike Obianwu assisted by finance and corporate associates Charles Eluromma, Oluwatoyin Ibigbami and Chioma Oparadike. Litigation partner Emmanuel Gbahabo, assisted by associates Olugbenga Akinlabi and Evans Ogbeide, provided claims and litigation diligence advice and support on the transaction.