Fidelity Bank Issues US$400m Eurobond, refinances US$256m of maturing notes

Fidelity Bank Issues US$400m Eurobond, refinances US$256m of maturing notes: Fidelity Bank Plc, on October 11, 2017, returned to the international capital markets and priced a successful US$400m 5-year Eurobond at a 10.50% coupon. The transaction also included the US$256m repurchase of its existing US$300m Eurobond maturing in May 2018. The transaction, according to the bank, was part of a strategic liability management exercise designed to extend Fidelity Bank’s debt maturity profile and proactively refinance the maturing 2018 Eurobond. (Source: Thisday)

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