Nigeria’s Fidelity Bank begins tender for $300 million 6 7/8% notes

By Susanna Moon

Chicago, Sept. 28 – Nigeria's Fidelity Bank plc said it is tendering for its $300 million of 6 7/8% notes due May 9, 2018 until 3 a.m. ET on Oct. 10.

The purchase price will be $1,010 for each $1,000 principal amount.

Fidelity is tendering for the notes in connection with a concurrent offering of new unsecured and unsubordinated notes, according to a company announcement.

The purpose of the tender “is to proactively manage upcoming debt redemptions and to extend the debt maturity profile of the company,” the company noted.

Settlement has been set for Oct. 13.

The minimum tender denomination is $200,000 and integrals of $1,000 after that.

The joint dealer managers are Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com), Renaissance Securities (Nigeria) Ltd. (+234 1 4485300 or syndicateDCM@rencap.com) and Standard Bank of South Africa Ltd. (+44 20 3167 5183 / +44 20 3167 or LiabilityManagement@standardsbg.com). The information and tender agent is Citibank, NA, London Branch (Citiexchanges@citi.com, +44 20 7920 9700 or https://debtxportal.issuerservices.citigroup.com).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.