Fidelity Bank Plc has fully repaid its $400 million Eurobond, meeting its international debt obligation at maturity and reinforcing its financial standing in the global capital market.
The five-year debt instrument, issued on October 28, 2021, matured on October 28, 2026. It carried an annual interest rate of 7.625 per cent, with payments made every six months.
The bank confirmed that it met all scheduled interest payments throughout the five-year period before settling the outstanding principal and final interest obligation in full.
According to Fidelity Bank, the repayment was funded through internally generated liquidity, supported by a dedicated sinking fund established to prepare for the maturity.
This allowed the lender to meet its obligation while maintaining normal business operations and complying with regulatory liquidity requirements.
Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, said the successful redemption reflected the bank’s disciplined financial management and commitment to honouring its obligations to investors.
She noted that the bank had anticipated the repayment obligation from the beginning and made deliberate financial provisions to ensure it was met without disrupting its operations.
The 2021 transaction was Fidelity Bank’s third Eurobond issuance, following earlier offerings of $300 million in 2013 and $400 million in 2017.
The latest $400 million offer attracted investor orders exceeding $700 million, indicating strong demand for the bank’s international debt offering.
The repayment also follows the completion of the bank’s recapitalisation programme, which increased its eligible regulatory capital to approximately ₦533 billion, above the ₦500 billion minimum requirement for banks with international authorisation.
With the Eurobond now fully settled, Fidelity Bank has completed a significant international debt obligation while reinforcing its record of meeting investor commitments.
The development also highlights the importance of careful liquidity planning for Nigerian banks seeking to maintain access to international funding markets.
