Fidelity Bank confirms 100% subscription of its N41.2bn bonds

By Kayode Tokede

Fidelity Bank Plc, a Nigeria’s leading bank has announced the result of the offer for subscription of its N41.213 billion 8.5% fixed rate unsecured subordinated bonds due 2031, saying it was 100% subscribed.

The notification at the Nigerian Stock Exchange on Wednesday said a total of 107 Commitment Forms for 56,593,000 units were received in connection with the Offer 78 Commitment Forms for 41,213,000 units within the clearing price of 8.5% were accepted.

“The 78 Commitment Forms for 41,213,000 units were valid under the terms of the Offer,” the bank said.

On basis of allotment, “The Offer is therefore 100% subscribed.

“The Securities and Exchange Commission has cleared the Basis of Allotment stated above as well as this announcement.

“The allotment of the Bonds will be effected by way of e-allotment to successful allotees.

“The Registrars, First Registrars & Investor Services Limited, 2. Abebe Village. Iganmu, Lagos, will credit the respective Central Securities Clearing System (CSCS) accounts of successful allotees with the allotted bonds.”