In Bond Issuance, Fidelity Bank Raises N41.21bn Nume Ekeghe Fidelity Bank Plc has raised N41.21 billion through a 10year fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031. The bank, in a statement yesterday, said the bond
issuance was fully subscribed given that total investor interest and commitments were N56.6 billion. This, it stated, adds to the impressive portfolio of landmark transactions structured by the bank, and underscores its capacity to
successfully execute debt capital market transactions. "The transaction is a landmark achievement in the Nigerian domestic debt market for being the largest corporate bonds ever issued by a Nigerian bank, including the deposit money banks and
merchant banks etc," it said. In December, the bank had announced plans to issue fixed income securities with 10-year tenor to support the growth and development of Small and Medium-sized Enterprises (SMEs), retail business as well as its technology infrastructure.
The bank conducted the debt issuance under its registered N100 billion bond issuance programme. The bonds are unsecured and subordinated, which will qualify as Tier II capital in line with the Central Bank of Nigeria (CBN) Guidance Notes
on Regulatory Capital for commercial banks in Nigeria. Speaking on the significance and success of the bond issuance, Fidelity Bank Chairman, Mustapha ChikeObi, was quoted to have said Continued on page 9
Okonjo-Iweala, Tinubu, Sanwo-Olu, Others Speak on Economic Revival at Ehingbeti... Page 8 Monday 15 February, 2021 Vol 26. No 9444. Price: N250
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Buhari Flays Nationwide Ethnic Violence,Vows to Protect all Groups Outrage as bandits kill 121 in Kaduna in 44 days Deji Elumoye in Abuja and John Shiklam in Kaduna President Muhammadu Buhari has flayed the reported cases of ethnic violence across the country, saying his government will protect all religious and ethnic groups in line with the provisions of the 1999 constitution of the Federal Republic of Nigeria as amended. Buhari, in a statement last night by his media
aide, Malam Garba Shehu, vowed that his government will protect all religious and ethnic groups, whether majority or minority in line with its responsibility under the constitution. Reacting to reports of the breakout of violence in some parts of the country by some ethnic and sectional groups, the president warned that the government will not allow any Continued on page 9
FG, Bankers’ Committee Seal Deal on National Theatre Renovation Engage Cappa D’Alberto to renovate structure
Obinna Chima The federal government and the Central Bank of Nigeria (CBN) as well as banks' chiefs under the aegis of the Bankers’ Committee yesterday signed a memorandum of understanding (MoU) to formally commence the renovation of the National Arts Theatre, Lagos. Also yesterday, the Bankers’
Committee and Cappa and D’Alberto Limited, the contractor to handle the project, signed an agreement to commence the first phase of the renovation, which is expected to end in 15 months’ time. Additionally, in order to ensure that the National Theatre and the adjoining Continued on page 9
GUBERNATORIAL CONDOLENCES... L-R: Zamfara State Governor, Hon. Bello Matawalle; Delta State Governor, Senator Ifeanyi Okowa; and Sokoto State Governor, Hon. Aminu Tambuwal, during a condolence visit to Okowa in Asaba...yesterday
Police Probe Lagos Protesters' Molestation, to Sanction Indicted Personnel...Page 5