MON 18 OCT, 2021-theGBJournal- Fidelity Bank Plc said Monday that they are considering raising capital from the international debt capital market through an unsecured notes issuance.
The proposed aggregate size of the offer is $500 million, due 2026, and it intends to list the Notes on the Irish Stock Exchange, ‘’with expectation that the notes will be traded on its regulated market.’’
The Bank said they intend to use the proceeds, which when issued will rank parri passu with all other unsecured and unsubordinated obligations of the Bank, for general corporate purposes including supporting its trade finance business.
In a notification of the intended offer to the Nigerian Exchange (NGX) Limited, Fidelity Bank said, the Securities and Exchange Commission (SEC) has confirmed that it has no objection to the transaction.
‘’The final decision to issue the Notes will however be subject to finalising the necessary Transaction documentation and prevailing market condition,’’ the Bank said.
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