Investors Oversubscribed for Fidelity Bank N41.213 Billion Fixed Bonds

Fidelity Bank Plc has announced the successful completion of its N41,213,000,000 8.5 percent Fixed Rate Unsecured Subordinated Bonds due 2031.

Fidelity Bank received 107 Commitment Forms for 56,593,000 units but the lender accepted 78 Commitment Forms at 8.5 percent for 41,213,000 units.

Also, the 78 Commitment Forms accepted for 41,213,000 units were valid under the terms of the Offer. Therefore, the offer recorded a 100 percent subscription.

The bank said “The Securities and Exchange Commission has cleared the Basis of Allotment stated above as well as this announcement.

“The allotment of the Bonds will be effected by way of e-allotment to successful allotees. The Registrars, First Registrars& Investor Services Limited, 2. Abebe Village. Iganmu, Lagos, will credit the respective Central Securities Clearing System (CSCS) accounts of successful allotees with the allotted bonds.“