{
  "id": 18416466,
  "title": "United Nigeria Airlines Closes 1st Tranche of N100bn CP Programme",
  "url": "https://urgent.news/2026/11/06/united-nigeria-airlines-closes-1st-tranche-of-n100bn-cp-programme",
  "topic": "world",
  "section": "World",
  "published": "2026-11-06T01:01:25.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/11/06/united-nigeria-airlines-closes-1st-tranche-of-n100bn-cp-programme/"
  },
  "original_language": "en",
  "account": "United Nigeria Airlines has closed the initial offering of its N100 billion commercial paper (CP) programme, raising N22 billion. The issuance was highly popular, with demand exceeding the N20 billion target, indicating strong investor confidence in the airline's financials and growth strategy. To accommodate the excess demand, United Nigeria Airlines absorbed 10% of the oversubscribed subscription and refunded the remaining amount to applicants who couldn't be fully allocated. Managing Director Mazi Osita Okonkwo expressed that the overwhelming demand was a testament to the company's financial performance and growth outlook, and that the proceeds would be used for fleet expansion and operations.\n\nThe N100 billion CP programme was issued in two series with tenors of 270 days and 364 days. The transaction was backed by strong investment-grade ratings from Agusto & Co. (A3 for short term and BBB- for long term) and DataPro (A1 for short term and BBB for long term). Rasaki Salawu, the Managing Director of Meristem Capital Limited, the Lead Issuing House, stated that they are proud to have assisted in the registration of the UNA CP programme and the successful debut issuance of N20 billion under Series 1 and 2, supporting the company's working capital requirements.\n\nSimultaneously, the Federal Airports Authority of Nigeria (FAAN) celebrated the accomplishments of two of its senior executives, Mrs. Olubunmi Kuku, Managing Director/Chief Executive, and Capt. Abdullahi Mahmood, Director of Airport Operations. They were both awarded professional and traditional honors for their leadership, service, and contributions to their respective fields. Kuku received the prestigious Honorary Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN), while Mahmood was conferred the traditional title of Barden Gabas of Mubi Emirate, Adamawa State. This recognition acknowledges their bravery, leadership, and commitment to promoting peace, unity, and development within the Emirate.",
  "summary": "Stories by Chinedu Eze United Nigeria Airlines has closed the first tranche of itsN100 billion commercial paper (CP) programme after raising N22 billion. The issuance was oversubscribed with demand exceeding",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}