Fidelity Bank completes a hit Eurobond offering, raises $400 million

fidelity-bank-completes-a-hit-eurobond-offering,-raises-$400-million

Right here’s Fidelity Bank’s third outing within the Eurobond market, having beforehand issued Eurobonds in 2013 and 2017.

Fidelity Bank Plc correct concluded a extremely a hit Eurobond offering, elevating US $400 Million from the global capital markets thru a 5-year tenor Eurobond, with a 7.765% coupon.

The Eurobond used to be managed collectively by JP Morgan, the No. 1 Globally Ranked Funding financial institution within the global Eurobond league tables, alongside with Citigroup, who’re No. 2 globally slack JP Morgan; and are No. 1 in Nigerian Bank Eurobonds particularly. The opposite Joint Lead Manager (JLM) used to be the African Export-Import Bank (Afreximbank), which is one in every of Africa’s top-rated financial institutions.

Fidelity Bank used to be ready to assemble this form of convincing team of JLMs ensuing from the financial institution’s recognition for world-class company governance and distress management, alongside with its extremely experienced and top-effective management and one in every of the strongest Board of Directors within the banking enterprise.

The Managing Director/CEO of the financial institution, Mrs. Nneka Onyeali-Ikpe, is a extremely respected and admired trailblazer, as one in every of the few feminine CEOs within the banking enterprise, and has over three a few years of skills, having beforehand labored at relatively just a few other top financial institutions, alongside side Well-liked Chartered Bank and Zenith Bank.

ALSO READ: Fidelity Bank’s third extremely a hit Eurobond finalised

The overall expose book from investors peaked at over $750m outdated to the tightening of the cost. Nonetheless, Fidelity Bank took $400 million which fell within the acceptable coupon charge according to the Bank’s expectations and price optimization aspirations. The Eurobond used to be oversubscribed by in the case of twice the book size.

Merchants within the Eurobond embrace some of doubtlessly the most selective and easiest effective institutions from all over the field, alongside side investors from the UK, Europe, the US, Asia, Heart East and Africa.

Right here’s Fidelity Bank’s third extremely a hit outing within the Eurobond market, having beforehand issued Eurobonds in 2013 and 2017, building an excellent music document within the global markets.

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