Fidelity Bank redeems $400 million Eurobond at maturity

Fidelity Bank Plc has successfully redeemed its 5-Year US$400 cardinal Senior Unsecured Notes astatine maturity, reaffirming its committedness to gathering its obligations to investors and reinforcing its way grounds successful the planetary indebtedness superior markets.

Issued connected 28 October 2021, the 5-year Eurobond matured connected 28 October 2026 and carried an yearly coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met each scheduled coupon payments passim the beingness of the instrumentality and has present fulfilled its last repayment work successful full, covering some main and accrued interest.

The redemption was funded from internally generated liquidity arsenic portion of the Bank's forward-looking liquidity absorption strategy. Through a dedicated sinking fund, Fidelity Bank progressively provided for the maturing obligation, enabling the Bank to conscionable its committedness portion maintaining business-as-usual operations and compliance with applicable regulatory liquidity requirements.

Commenting connected the development, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr/Mrs Nneka Onyeali-Ikpe, said the palmy redemption reflected the Bank's disciplined attack to fiscal absorption and its committedness to delivering connected its obligations.

"This palmy redemption demonstrates the spot of our franchise, the subject of our equilibrium expanse absorption and our committedness to honouring our obligations to investors and different stakeholders. We anticipated this maturity from t...