Fidelity Bank to Raise $500m Unsecured Notes From International Market

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Fidelity Bank Logo And Building

The management of Fidelity Bank Plc has expressed decision to raise $500million capital from the international debt capital market through unsecured notes insurance. The Company Secretary, Fidelity Bank, Ezinwa Unuigboje in a statement on the Nigerian Exchange Limited (NGX) said the intended capital is to be listed on Irish Stock Exchange.

He noted that Nigerian’s Securities and Exchange Commission (SEC) has no objection to the transaction. According to his statement: “Fidelity bank is considering raising capital from the international debt capital market through an unsecured notes insurance, proceeds of which are intended to be used for general corporate purposes including supporting its trade finance business.

“The purposed aggregate offer size is $500million, due 2026, which will when issued rank parri passu, without preference among themselves, with all other unsecured and unsubordinated obligations of the Bank.

“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.

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