IFLR1000

Fidelity Bank N30 billion 16.48% subordinated unsecured bond issue

8/5/2015
Investment grade bond/note issue
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N 30 trillion

$ 944.882 million

Completed

8/5/2015

Overview:

  • Nigerian commercial band Fidelity Bank issued N30 Billion 16.48% fixed Rate subordinated unsecured bonds due 2022. 
  • The bonds will be used to finance SMEs and bolster the bank’s retail infrastructure.
  • FBN Trustees, UBA Trustees and Stanbic IBTC Trustees acted as trustees to the issue, Planet Capital as senior underwriter. 

John Crabb - Journalist 

Jurisdiction:

Nigeria

Deal type:

Investment grade bond/note issue

Practice area:

Capital markets : Debt

Governing law:

Nigeria

Industry sector:

Banking

Firms:
Banwo & Ighodalo

Party: Fidelity Bank (Issuer)

George Ikoli & Okagbue

Party: Fidelity Securities Limited (Issuer)

Sefton Fross (closed 2021/2022)

Party: FBN Trustees (Trustee)

Party: Stanbic IBTC Trustees (Trustee)

Party: UBA Trustees (Trustee)

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