Chicago, Jan. 4 – Fidelity Bank plc placed a $400 million five-year eurobond in the Rule 144A and Regulation S markets (B2//B-), according to a press release.
The notes have a 7 5/8% coupon and priced with a re-offer yield of 7 7/8%.
In late October, there was a two-day virtual roadshow and then a series of small group and one-on-one meetings.
The offer was around 2x oversubscribed.
The is the first foray into the international debt capital markets for the issuer after a four-year hiatus. It is the third eurobond for Fidelity since 2013.
African Export-Import Bank, Citi and J.P. Morgan were joint lead managers and bookrunners for the notes.
Fidelity Bank is a Victoria Island, Nigeria-based commercial bank.
| Issuer: | Fidelity Bank plc
|
| Amount: | $400 million
|
| Issue: | Senior eurobond
|
| Tenor: | Five years
|
| Bookrunners: | African Export-Import Bank, Citi and J.P. Morgan
|
| Coupon: | 7 5/8%
|
| Yield: | 7 7/8%
|
| Trade date: | Oct. 21
|
| Settlement date: | Oct. 28
|
| Ratings: | Moody’s: B2
|
| Fitch: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
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