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Fidelity Bank Plc issues largest ticket Tier II local bonds in Nigeria
On
By Babajide Komolafe
Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.
The bond issuance which was fully subscribed, given that total investor interest and commitments in the bonds were N56.6 billion, adds to the impressive portfolio of landmark transactions structured by the bank, and underscores its capacity to successfully execute debt capital market transactions.
The transaction is a landmark achievement in the Nigerian domestic debt market for being the largest corporate bonds ever issued by a Nigerian Bank including the deposit money banks and merchant banks etc.