FMDQ Exchange admits Fidelity Bank’s N41.21bn bond
FMDQ Securities Exchange Limited said on Friday that it had, through its Board Listings, Markets and Technology Committee, recently approved the listing to its platform of the Fidelity Bank Plc Series 1 N41.21 billion Fixed Rate Subordinated Unsecured Bond under its N100.00 billion Bond Issuance Programme.
FMDQ Exchange said the concurrent listings and quotations by corporates across diverse sectors continued to validate the Exchange as the choice platform for the registration, listing and quotation of debt securities in the Nigerian financial market.
It said the significant listing would allow the issuer, Fidelity Bank, fund key activities that would ultimately translate in the development of the banking sector and the Nigerian economy at large.
The Managing Director/Chief Executive Officer, Fidelity Bank, Mrs Nneka Onyeali-Ikpe, was quoted in a statement as saying, “This is a landmark bond issuance. It is by far the largest local bond transaction by any commercial bank in Nigeria, thus validating the continued investor confidence in our well-experienced management team.
“By registering and listing the bonds on FMDQ Securities Exchange Limited, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments.”
Commenting on the transaction, the Co-CEO, Planet Capital Limited, Mr Efe Akhigbe, said, “Planet Capital is pleased to sponsor the listing of the Bond, having led and collaborated with a club of investment banking firms that advised on this Transaction.”
His Co-CEO, Dr. Tony Anonyai, said the success of the issuance firmly established the bank’s position as one of the leading banks in the country and further set 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,” he added.
