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Fidelity
Home›Fidelity›Fidelity Bank Plc Notifies Intention To Issue Up To $ 500 Million In Unsecured Bonds

Fidelity Bank Plc Notifies Intention To Issue Up To $ 500 Million In Unsecured Bonds

By Tim Kane
October 20, 2021
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Wednesday, Oct 20, 2021 / 3:13 p.m. / NGX / Header image credit: Loyalty bank

Fidelity Bank Plc (the “Bank”) intends to raise capital in the international debt capital market through the issuance of unsecured notes, the proceeds of which are intended for general corporate use. business, including supporting its trade finance activities (the “Transaction”).

The overall size of the proposed offering is USD 500,000,000 (five hundred million US dollars), maturing in 2026, which, when issued, will be classified parri passu, without any preference between them, along with all other bonds. unsecured and unsubordinated from the Bank (the “Notes”). The Company intends to list the Notes on the Irish Stock Exchange, with the expectation that the Notes will be traded on its regulated market. The Securities and Exchange Commission has confirmed that it has no objection to the Transaction.

In view of the above, the Bank is pleased to inform Nigerian Exchange Limited of the planned investor meetings regarding the Transaction which is due to start today on October 18, 2021.

The final decision to issue the Notes will however be subject to the finalization of the documentation necessary for the Transaction and to the market conditions in force.

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Table: unaudited results for the second quarter of 2021

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