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Fidelity Bank lists N41.2bn series 1 bond on Nigerian Stock Exchange

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Fidelity Bank

Fidelity Bank has listed its N41.21 billion, 8.5% fixed rate unsecured subordinated bond on the Nigerian Stock Exchange (NSE).

Techeconomy.ng obtained this from a statement signed by the bank’s secretary, Ezinwa Unuigboje on Wednesday, April 21.

The bank explained that 10 years 8.5% subordinated unsecured fixed-rate series 1 bonds, which was issued on 7th January 2021, and is due by 2031 has been listed on the daily official list of NSE.

Recall that the FMDQ Securities Exchange Limited announced the successful listing of the Series 1 bond earlier in March 2021, under its N100 billion debt issuance.

The financial institution had revealed in 2020, plans to issue up to N50 billion in local bonds by Q4 2020 in order to refinance existing debts.

Techeconomy.ng previously reported that the bank declared that it had successfully issued 10-year N41.21bn in fixed-rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.

This was contained in a statement titled ‘Fidelity Bank Plc successfully issued the largest ticket Tier II local bonds in Nigeria’.

The statement read: “The bond issuance, which was fully subscribed, given that total investor interest and commitments in the bonds were N56.6bn, adds to the impressive portfolio of landmark transactions structured by the bank, and underscores its capacity to successfully execute debt capital market transactions.

‘The transaction is a landmark achievement in the Nigerian domestic debt market for being the largest corporate bonds ever issued by a Nigerian Bank including the deposit money banks and merchant banks etc.”

Recalled that the bank had announced plans to issue fixed income securities with 10-year tenor to support the growth and development of Small and Medium Enterprises, retail business as well as its technology infrastructure.

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  1. Pingback: Fidelity Bank Lists N41.2bn Series 1 Bond On Nigerian Stock Exchange | Techvalley

  2. Pingback: Fidelity Bank lists N41.2bn series 1 bond on Nigerian Stock Exchange - 9jaheadies

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