FMDQ admits Fidelity’s N41.21 billion ‘Series 1’ bond
FMDQ Securities Exchange Limited (FMDQ Exchange) has admitted Fidelity Bank Plc’s ‘Series 1’ N41.21 billion fixed-rate subordinated unsecured bond under its ₦100 billion bond issuance programme.
Nneka Onyeali-Ikpe, the bank’s Managing Director, announced this in a statement on Friday in Lagos.
The listing was approved through FMDQ Exchanges’ Board Listings, Markets and Technology Committee.
Ms. Onyeali-Ikpe said the listing would allow the bank to fund key activities that would translate into the development of the banking sector and the Nigerian economy.
“This is a landmark bond issuance; it is by far the largest local bond transaction by any commercial bank in Nigeria.
“It is thus validating the continued investor confidence in our well-experienced management team.
“By registering and listing the bonds on FMDQ Exchange, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments,” Ms. Onyeali-Ikpe said.
Commenting on the transaction, a co-Chief Executive Officer of Planet Capital Ltd., Efe Akhigbe, said he was pleased to sponsor the bond’s listing, having led and collaborated with a club of investment banking firms that advised on the transaction.
Tony Anonyai, the co-CEO, said, “The success of the issuance firmly establishes the bank’s position as one of the leading banks in the country.
“This further sets it on the strategic trajectory for market dominance in the coming years.
“This listing makes for liquidity and price discovery in the marketplace, which is a sweetener for the investors.”
(NAN)
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