Fidelity Bank settles of $255,503, 000.00 tender offer Notes today

Fidelity Bank Nigeria Plc has announced Monday, 16th October , 2017, as settlement date for investors that tender their Fidelity Bank dollar denominated Notes for purchase, subject to offer it made on 27th September, 2017.

The bank said in a statement signed by the Company’s Secretary Ezinwa Onuigboje, that subject to minimum denomination, it will pay for the Notes accepted by it for purchase, subject to tender offer price in cash equal to US $1,010 per US$1,000 in principal amount of the notes plus the accrued interest amount.

The purchase price and the accrued interest amount, the bank announced, will be paid on 16th October, 2017, subject to completion of financing conditions.
The bank explained that the tender offer was made upon the terms and subject to the conditions, including the financing conditions set out in the tender offer memorandum of 27th September, 2017.

Fidelity Bank said that it has received valid tender for purchase of $255,503, 000.00 in aggregate principal amount of Notes as a result for purchase,
Daily Times recalls that the settlement was sequel to Fidelity’s 28th September , 2017, announcement offering to purchase its Notes from the holders before its maturity date on 9th May , 2018, the expiration deadline for the tender offer was 11th October, 2017.

Announcing the result of the offer, the bank said “Fidelity bank Plc announces the result of its invitation to holders of its $300,000,000 6.875 per cent Notes due 9TH May, 2018 with the following particulars Regulation, S: Code 092852725: ISN: XSO929527, Rule 144A. Common Code: 091863310, ISIN: US316044AA48: CUSIP: 316044AA4, Notes issued by the bank, for holders of such Notes to tender them for purchase.

It added: “The company hereby announces that in accordance with the tender offer memorandum, it tends to accept for purchase, the Notes validly tendered subject to satisfaction of the financing conditions.”

Stories by Bonny Amadi