Fidelity Bank repays its $400m eurobond in full, from its own cash
The five-year note matured on 28 October. The bank had set money aside in a sinking fund.
Lagos — Nigeria's Fidelity Bank has repaid its US$400 million eurobond in full on its maturity date, 28 October, using its own cash.
The five-year senior unsecured notes were issued in October 2021 with an annual coupon of 7.625%, paid twice a year. The bank says it made every coupon payment and has now paid back principal and final interest. It built up the money gradually in a dedicated sinking fund, so the repayment did not disrupt normal business or its regulatory liquidity.
Managing director Nneka Onyeali-Ikpe said the bank had planned for the maturity from the start.
It was Fidelity's third eurobond, after US$300 million in 2013 and US$400 million in 2017. The 2021 issue drew orders of more than US$700 million. The repayment follows the completion of the bank's recapitalisation ahead of the regulatory deadline.
Source: Premium Times, 28 October 2026.
