DEAL: Nigerian Exchange Group (NGX) lists Fidelity Bank’s N41.2 billion series 1 bond.

The Nigerian Exchange Group (NGX) has announced the successful listing of Fidelity Bank’s 10-year subordinated unsecured fixed rate series 1 bond worth N41.2 billion, on its platform.

This is according to a notification by the NGX Group which reads; ” This is to inform the General Public that Fidelity Bank Plc’s N41,213,000,000 10 year  8.5% Subordinated Unsecured Fixed Rate Series 1 Bonds due 2031, issued on January 7th, 2021 under Fidelity Bank’s N100,000,000,000 Debt Issuance Programme were listed on the Daily Official List of NGX on Tuesday, 20 April 2021.”

The successful issuance of the bond demonstrates strong investors confidence in the brand, and highlights the capability of the bank to expand its funding sources. In light of this, the proceeds from the bond issuance will be used to fund key activities which will ultimately translate in the development of the banking sector and the Nigerian economy at large.

What you should know:

  • Nairametrics had earlier reported the listing of Fidelity’s N41.2 billion series 1 bond on FMDQ Securities Exchange.
  • This is in addition to a N30 billion series 1 bond earlier issued on the same platform in 2015. The bond had a face value of N1000, tenor of 7 years and a coupon rate of 16.48%.

For more information about the disclosure, click HERE.

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