Fidelity bank, Nigeria tier 2 lender with fully pledged commercial banking operation since 1999 after it operated for 1 year as a merchant bank. The bank currently has over 250 branches and 5 million customers from all parts of Nigeria
The bank last week inform the general public and its shareholders that it has redeemed its US$400million Senior Unsecured 5-year Notes due 17th October 2022.
According to the statement issued by the bank and duly signed by its Company Secretary, Ezinwa Unigboje, the bank said “The Notes were successfully issued on 17th October 2017 through a combination of the new issue and tender offer for the refinancing of the Bank’s US$300million Senior Unsecured Notes issued in May 2018.
The notes were redeemed on October 17, 2022. Noteholders received a total of $421 million covering the principal amount and the accrued 6 months coupon in line with the executed Trust Deeds“.
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About Fidelity Bank
The bank is focused on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs), Fidelity Bank is rapidly implementing a digital-based retail banking strategy which has resulted in exponential growth in savings deposits over the last Six (6) years, with over 40 percent customer enrollment on the Bank’s flagship mobile/internet banking products.
Quoted on the Nigerian Stock Exchange (NSE), Fidelity Bank Plc began operations in 1988 as a Merchant Bank. In 1999, it converted to Commercial Banking and then became a Universal Bank in February 2001. The current enlarged Fidelity Bank is a result of the merger with the former FSB International Bank Plc and Manny Bank Plc in 2005.