Fidelity Bank Redeems $400m Eurobond at Maturity

Fidelity Bank Plc has successfully redeemed its US$400 million, five-year Eurobond at maturity, fulfilling its principal and accrued interest obligations to international investors.
The bond, issued on October 28, 2021, carried a 7.625% annual coupon and matured on October 28, 2026. The bank said the redemption was funded through internally generated liquidity and a dedicated sinking fund established to prepare for the maturity.
Fidelity Bank said the successful repayment reflects its strong liquidity position, disciplined financial management and commitment to meeting its obligations. The bank also recently completed its recapitalisation programme, increasing eligible regulatory capital to approximately ₦533 billion, above the ₦500 billion requirement for banks with international authorisation.