FMDQ Securities Exchange Limited has announced the successful listing of Fidelity Bank Plc Series 1 Fixed Rate Subordinated Unsecured Bond worth N41.21 billion.
This is according to a disclosure by FMDQ which reads: ‘’FMDQExchange is pleased to announce the approval for the listing of the Fidelity Bank Plc ₦41.21bn Series 1 Fixed Rate Subordinated Unsecured Bond under its ₦100.00bn Bond Issuance Programme on its platform.’’
This recent action adds to the growing list of corporate bonds admitted on FMDQ Platform, with the most recent being the admittance of TSL SPV N12 billion Series 1 infrastructure bond, earlier reported by Nairametrics.
It is pertinent to note that the deal is part of a ₦100.00billion Bond Issuance Programme earlier initiated by the Bank, to raise capital that will be used to fund key activities, which will ultimately translate in the development of the banking sector and the Nigerian economy at large.
What they are saying
Commenting on the recent deal, the Co-CEO of Planet Capital Limited, Dr. Tony Anonyai, said: “The success of the issuance firmly establishes the Bank’s position as one of the leading banks in the country and 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”.
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What you should know
- As part of its N100 billion bond issuance programme, Fidelity Bank Plc had earlier in 2015 issued a N30 billion Fixed Rate Subordinated Unsecured Bond on the FMDQ Exchange platform. The bond had a face value of N1000, tenor of 7 years and a coupon rate of 16.48%.
- Fidelity Bank Plc had earlier posted its FY 2020 results, where it reported a profit after tax figures of N28.03 billion.
- As at the time of reporting this, Fidelity Bank shares currently trades N2.3 on the floor of the NSE, up by 2.68%