Banking Sector
Fidelity Bank Lists N41.213 Billion 10-Year Bond at 8.5% Rate
Fidelity Bank Plc, a leading bank in Nigeria, announced on Monday it has listed N41,213,000,000 10-year 8.5 percent subordinated unsecured fixed-rate series 1 Bonds due 2031 under the lender’s N100,000,000,000 Debt Issuance Program on FMDQ Securities Exchange on March 12, 2021.
The lender disclosed in a statement signed by Ezinwa Unuigboje, Company Secretary, Fidelity Bank Plc.
The statement reads, “This is to inform The Nigerian Stock Exchange (NSE) and the General Public that Fidelity Bank Plc’s (“the Bank”) N41,213,000,000 10-year 8.5 percent Subordinated Unsecured Fixed Rate Series 1 Bonds due 2031 under the Bank’s N100,000,000,000 Debt Issuance Programme, was listed on FMDQ Securities Exchange on March 12, 2021.”
In February, Investors King reported that the bank raised the exact amount when it announced it received 107 Commitment Forms for 56,593,000 units but the lender accepted 78 Commitment Forms at 8.5 percent for N41.213 billion bonds it offered.
After this listing, the bank would have raised N82.426 billion out of the N100,000,000,000 it planned to raise.