FIDELITY BANK REDEEMS $400 MILLION EUROBOND NOTES

Fidelity Bank plc announced the redemption of the $400,000,000.00 Eurobond Notes due October 17, 2022. On October 17, 2017, the bank successfully issued a US$400 million 5-year Eurobond. The transaction also included a Tender Offer (the “Tender Offer” or “Offer”) for the refinancing of the Bank’s US300million Senior Unsecured Notes issued in May 2018. The transaction was the largest combined new issue & liability management offering ever by a Nigerian issuer and was well received by analysts and investors. The transaction which was managed by Citigroup Incorporated, Renaissance Capital and…

Read More

HERFIDELITY LAUNCHES APPRENTICESHIP SUPPORT INITIATIVE

Leading financial institution, Fidelity Bank Plc, has announced the launch of its Apprenticeship Support Initiative as part of its strategy to encourage women-led small and medium-scaled enterprises (SME). The scheme, which would be executed under its HerFidelity Proposition, would commence with a two-months’ fashion and design training for young-women in Kano State. Earlier in the year, HerFidelity proposition was launched at the International Women’s Day celebration hosted by Fidelity Bank at the Civic Center, Lagos. At the event, the Bank’s Managing Director, Nneka Onyeali-Ikpe, presented cheques of N1million each to…

Read More

FITCH UPGRADES FIDELITY BANK’S ISSUER DEFAULTING RATING FROM ‘B-’ TO ‘B’

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. According to the global rating agency, the upgrade is a result of the Bank’s improving business profile and resilient financial metrics. The agency added that the improved rating reflected the bank’s increased creditworthiness relative to other issuers in Nigeria, emphasizing that, “Fidelity’s Long- and Short-Term IDRs are driven by its standalone creditworthiness, as expressed by its…

Read More

FIDELITY BANK BAGS AWARD FOR BEST SME BANK IN NIGERIA

Fidelity Bank Plc, one of the Nigeria’s foremost financial institutions, has added yet another accolade to its burgeoning collection of awards. This time, the Bank has been recognized as the ‘Best SME Bank in Nigeria’ by the Global Finance Banking & Finance Awards 2022. According to the organizers, Global Banking and Finance review, the bank was presented the award after a comprehensive review and assessment of its intervention and provision of long-term financing support for small businesses across Nigeria. Dedicating the award to customers and staff of the bank, Managing…

Read More

FIDELITY BANK PARTNERS EDO STATE AND GIZ TO HOST CBN RT200 FX EXPORTS ROUNDTABLE AND SENSITIZATION WORKSHOP

Leading financial institution, Fidelity Bank Plc, has announced plans to host an exports roundtable and policy sensitisation workshop for businesses in Benin-City, Edo State capital in partnership with the Edo State Investment Promotion Office (ESIPO) and GIZ on Tuesday, 24 May 2022.  The event, which would be the fourth edition of the bank’s CBN RT200 FX Sensitization seminars following successful outings in Kano, Ondo and Plateau States in February, March and April 2022 respectively, is part of the bank’s initiatives to help importers pivot to exports.  According to the Divisional…

Read More