Fidelity Bank announces result of tender offer (Nigeria)

By Onome Ohwovoriole | Nairametrics October 16, 2017

In a notice sent to the Nigerian Stock Exchange (NSE), Fidelity Bank Plc has announced the results of the tender offer for its $300 million 6.85% tender notes. $255 million of the notes were successfully tendered. Subject to the terms of the offer, the company will pay for the notes accepted by it for purchase pursuant to the tender offer, a price in cash equal to $1010 per $1000 in principal amount of the notes plus the accrued interest amount. The Purchase Price and the Accrued Interest Amount will be paid on the Payment date, expected to be on the 16th of October 2017, but is subject to completion of the financing condition.

Fidelity Bank Plc was incorporated on 19 November 1987 as a private limited liability company and domiciled in Nigeria. It obtained a merchant bank licence on 31 December 1987 and commenced banking operations on 3rd of June 1988. The Bank converted to a commercial bank on 16 July 1999 and registered as a public limited liability company on the 10th of August 1999. Fidelity Bank Plc obtained its universal banking licence on the 6th of February 2001, and was listed on the NSE on the 17th of May 2005.

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