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    FMDQ Exchange admits Fidelity Bank’s N41.21bn series 1 bond

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    Naija247newshttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Lagos, March 12, 2021 FMDQ Securities Exchange Limited (FMDQ Exchange) has admitted Fidelity Bank Plc’s Series 1 N41.21 billion Fixed Rate Subordinated Unsecured Bond under its ₦100 billion Bond Issuance Programme.

    Mrs Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc announced this in a statement on Friday in Lagos.

    The listing was approved through FMDQ Exchanges’ Board Listings, Markets and Technology Committee.

    Onyeali-Ikpe said that the significant listing would allow the Issuer, Fidelity Bank Plc, fund key activities that would translate into the development of the banking sector and the Nigerian economy.

    “This is a landmark bond issuance; it is by far the largest local bond transaction by any commercial bank in Nigeria.

    “It is thus validating the continued investor confidence in our well-experienced management team.

    “By registering and listing the bonds on FMDQ Exchange, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments,’’ Onyeali-Ikpe said.

    Commenting on the transaction, the Co-CEO, Planet Capital Ltd., Mr Efe Akhigbe, said that Planet Capital was pleased to sponsor the listing of the bond, having led and collaborated with a club of investment banking firms that advised on this transaction.

    Dr Tony Anonyai, the Co-CEO, Planet Capital Limited, in support of the milestone owing to the transaction said that the bank was further established.

    The success of the issuance firmly establishes the bank’s position as one of the leading banks in the country.

    “This further sets it on the strategic trajectory for market dominance in the coming years.

    “This listing makes for liquidity and price discovery in the marketplace, which is a sweetener for the investors,’’ he said.

    Naija247news reports that the concurrent listings and quotations by corporate bodies across diverse sectors continue to validate FMDQ Exchange as the choice platform for the registration, listing and quotation of debt securities in the Nigerian financial market.

    It also lays credence to the innovation, efficiency and operational excellence for which the Exchange is reputed as endorsed by issuers, investors and other market stakeholders.

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