• Home
  • Contact Us
Tuesday, August 9, 2022
  • Login
Rave Online News
  • Home
  • News
    • All
    • World

    Electricity Customers Increase to 10.51m in 2021

    First Bank Reopens Abuja Headquarters Office

    First Bank Reopens Abuja Headquarters Office

    LIRS Partners Deloitte to Boost Transparency in Tax Administration With Whistle-Blower Initiative

    LIRS Partners Deloitte to Boost Transparency in Tax Administration With Whistle-Blower Initiative

    Elon Musk Shares cryptic Twitter Post About Death

    Tesla CEO, Elon Musk Accuses Twitter of Fraud in Countersuit

    Pan African Digital Rights Bodies Laud Kenya Government’s Decision not to Shut Down the Internet

    Pan African Digital Rights Bodies Laud Kenya Government’s Decision not to Shut Down the Internet

    Facebook Tops Most Restricted Social Media Apps List

    Facebook Tops Most Restricted Social Media Apps List

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Startup
    Beware! Hackers Can Unlock, Steal Your Vehicles – NCC Warns Nigerians

    NCC-CSIRT Flags ‘HiddenAds’ Malware that Jeopardizes Users’ Privacy

    Tizeti Expands to Other African Markets, As It Goes Public

    Tizeti Expands to Other African Markets, As It Goes Public

    Olubadan of Ibadan Backs Clamour for Telecom Infrastructure Protection

    Olubadan of Ibadan Backs Clamour for Telecom Infrastructure Protection

    Pantami Reaffirms FG’s Commitment to Indigenous Telecom Content; As Danbatta Lauds Efforts

    Pantami Reaffirms FG’s Commitment to Indigenous Telecom Content; As Danbatta Lauds Efforts

    NCC Restates Commitment to Fund Research as VCs Attend Roundtable

    NCC Restates Commitment to Fund Research as VCs Attend Roundtable

    Etex Nigeria Launches App to Bridge Gap Between Distributors and End Users

    Etex Nigeria Launches App to Bridge Gap Between Distributors and End Users

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Movie
    • Music
    BBNAIJA 7: Christy O, Cyph Evicted As Big Brother Introduces Two New Housemates

    BBNAIJA 7: Christy O, Cyph Evicted As Big Brother Introduces Two New Housemates

    Modella Wins First BBNaija Showmax Task

    Modella Wins First BBNaija Showmax Task

    7 Must-Watch Programmes to Catch up on this Week on GOtv

    7 Must-Watch Programmes to Catch up on this Week on GOtv

    Hermes Becomes Second BBNaija Level Up Head of House

    Hermes Becomes Second BBNaija Level Up Head of House

    MultiChoice Launches New DStv Channel, News Central

    MultiChoice Launches New DStv Channel, News Central

    Big Brother Naija Adds Two New Housemates to Level up Season

    Big Brother Naija Adds Two New Housemates to Level up Season

  • Sports
  • Politics
  • Business
No Result
View All Result
  • Home
  • News
    • All
    • World

    Electricity Customers Increase to 10.51m in 2021

    First Bank Reopens Abuja Headquarters Office

    First Bank Reopens Abuja Headquarters Office

    LIRS Partners Deloitte to Boost Transparency in Tax Administration With Whistle-Blower Initiative

    LIRS Partners Deloitte to Boost Transparency in Tax Administration With Whistle-Blower Initiative

    Elon Musk Shares cryptic Twitter Post About Death

    Tesla CEO, Elon Musk Accuses Twitter of Fraud in Countersuit

    Pan African Digital Rights Bodies Laud Kenya Government’s Decision not to Shut Down the Internet

    Pan African Digital Rights Bodies Laud Kenya Government’s Decision not to Shut Down the Internet

    Facebook Tops Most Restricted Social Media Apps List

    Facebook Tops Most Restricted Social Media Apps List

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Startup
    Beware! Hackers Can Unlock, Steal Your Vehicles – NCC Warns Nigerians

    NCC-CSIRT Flags ‘HiddenAds’ Malware that Jeopardizes Users’ Privacy

    Tizeti Expands to Other African Markets, As It Goes Public

    Tizeti Expands to Other African Markets, As It Goes Public

    Olubadan of Ibadan Backs Clamour for Telecom Infrastructure Protection

    Olubadan of Ibadan Backs Clamour for Telecom Infrastructure Protection

    Pantami Reaffirms FG’s Commitment to Indigenous Telecom Content; As Danbatta Lauds Efforts

    Pantami Reaffirms FG’s Commitment to Indigenous Telecom Content; As Danbatta Lauds Efforts

    NCC Restates Commitment to Fund Research as VCs Attend Roundtable

    NCC Restates Commitment to Fund Research as VCs Attend Roundtable

    Etex Nigeria Launches App to Bridge Gap Between Distributors and End Users

    Etex Nigeria Launches App to Bridge Gap Between Distributors and End Users

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Movie
    • Music
    BBNAIJA 7: Christy O, Cyph Evicted As Big Brother Introduces Two New Housemates

    BBNAIJA 7: Christy O, Cyph Evicted As Big Brother Introduces Two New Housemates

    Modella Wins First BBNaija Showmax Task

    Modella Wins First BBNaija Showmax Task

    7 Must-Watch Programmes to Catch up on this Week on GOtv

    7 Must-Watch Programmes to Catch up on this Week on GOtv

    Hermes Becomes Second BBNaija Level Up Head of House

    Hermes Becomes Second BBNaija Level Up Head of House

    MultiChoice Launches New DStv Channel, News Central

    MultiChoice Launches New DStv Channel, News Central

    Big Brother Naija Adds Two New Housemates to Level up Season

    Big Brother Naija Adds Two New Housemates to Level up Season

  • Sports
  • Politics
  • Business
No Result
View All Result
Rave Online News
No Result
View All Result
Home E-Financial

Fidelity Bank Records Success in N41.21Bn Bond Issuance

Raveonlinenews by Raveonlinenews
February 15, 2021
in E-Financial
0
Fidelity Bank Records Success in N41.21Bn Bond Issuance
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Fidelity Bank Plc said it has successfully issued 10-year N41.21bn in fixed rate unsecured subordinated bond at a 8.5 per cent coupon rate due in 2031.

It disclosed this in a statement on Sunday titled ‘Fidelity Bank Plc successfully issued the largest ticket Tier II local bonds in Nigeria’.

The bank stated, “The bond issuance, which was fully subscribed, given that total investor interest and commitments in the bonds were N56.6bn, adds to the impressive portfolio of landmark transactions structured by the bank, and underscores its capacity to successfully execute debt capital market transactions.

‘The transaction is a landmark achievement in the Nigerian domestic debt market for being the largest corporate bonds ever issued by a Nigerian Bank including the deposit money banks and merchant banks etc.”

It stated that in December, the bank had announced plans to issue fixed income securities with 10-year tenor to support the growth and development of Small and Medium Enterprises, retail business as well as its technology infrastructure.

The bank conducted the debt issuance under its registered N100bn bond issuance programme.

It stated that the bonds were unsecured and subordinated, which would qualify as Tier II Capital in line with the Central Bank of Nigeria guidance notes on regulatory capital for commercial banks in Nigeria.

Speaking on the significance and success of the bond issuance, Mustapha Chike-Obi, chairman, Fidelity Bank, said that the bond issuance further demonstrated the bank’s confidence in Nigeria’s debt market.

“It also validates the continued investor confidence in our corporate strategy and aspirations, strong corporate governance structure and solid and stable executive management team with robust history of superior financial performance and returns,” Obi said.

In her comments, Mrs Nneka Onyeali-Ikpe, chief executive officer, Fidelity Bank, noted that proceeds from the transaction would be utilised to support growth in the issuer’s risk assets in SME and retail business as well as investments in technology and retail infrastructure.

This, Onyeali-Ikpe added, was in line with the bank’s Tier I aspirations.

According to her, its business fundamentals had remained strong despite the challenging economic environment occasioned by the coronavirus pandemic and the attendant recession.

“The successful bond issuance highlights the confidence in the Fidelity brand, as well as our capability to expand our funding sources, and deliver innovative financial services to our esteemed customers,” she added.

The bank stated that the issue was assigned a rating of A- by Agusto, and A by Datapro and would be listed on both the Nigerian Stock Exchange and FMDQ Securities Exchange Limited.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with over 5.7 million customers who were serviced across its 250 business offices and various other digital banking channels.

Related

Tags: chairmanFidelity BankMustapha Chike-Obi
Previous Post

All You Need to Know About Four Organisations Supporting Nigeria with COVID Vaccines

Next Post

MTN Commits to Net Zero Emissions by 2040

Raveonlinenews

Raveonlinenews

Next Post
MTN GlobalConnect Bags Best African Wholesale Operator Award

MTN Commits to Net Zero Emissions by 2040

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ad

Recent News

Electricity Customers Increase to 10.51m in 2021

August 8, 2022
First Bank Reopens Abuja Headquarters Office

First Bank Reopens Abuja Headquarters Office

August 8, 2022
Beware! Hackers Can Unlock, Steal Your Vehicles – NCC Warns Nigerians

NCC-CSIRT Flags ‘HiddenAds’ Malware that Jeopardizes Users’ Privacy

August 8, 2022
Tizeti Expands to Other African Markets, As It Goes Public

Tizeti Expands to Other African Markets, As It Goes Public

August 8, 2022

Popular Posts

  • How MTN is Improving Broadband Penetration in Nigeria

    Five Things to Know About MTN’s Fibre-to-the-Home Service

    0 shares
    Share 0 Tweet 0
  • How SHAREit Lite is Reshaping File Management and Sharing Process on Mobiles for Young Nigerians

    0 shares
    Share 0 Tweet 0
  • MTN Alleges N22Bn Fraud on Mobile Money Banking

    0 shares
    Share 0 Tweet 0
  • MTN Targets Nigerian Businesses with New Premium Wi-Fi

    0 shares
    Share 0 Tweet 0
  • Nadia Buari Unveils Van Vicker as Father of Her Four Daughters

    0 shares
    Share 0 Tweet 0

Browse by Category

Search this site

No Result
View All Result
  • Home
  • Contact Us

© 2022 Rave News - Crafted with ❤️ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • News
  • Metro
  • Tech
  • Politics
  • Sports
  • Business
  • E-Financial
  • Entertainment

© 2022 Rave News - Crafted with ❤️ by Claridan - Adsvance Digitals.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In