offering, raising $400 million from the international capital market through a 5-Year tenor Eurobond, with a 7.765 per cent coupon. The Eurobond was managed jointly by JP Morgan, the No. 1 Globally Ranked Investment bank in the global Eurobond league tables, along with Citigroup, who are No. 2 globally behind JP Morgan; and are No. 1 in Nigerian Bank Eurobonds specifically.
Fidelity Bank was able to assemble such a strong team of JLMs due to the bank’s reputation for world-class corporate governance and risk management, along with its highly experienced and top-quality management and one of the strongest Board of Directors in the banking industry.
The total order book from investors peaked at over $750 million before the tightening of the price. However, Fidelity Bank took $400 million which fell within the acceptable coupon rate in line with the Bank’s expectations and cost optimization aspirations. The EUROBOND was oversubscribed by 1.9x the book size.
Investors in the Eurobond include some of the most selective and best quality institutions from around the world, including investors from the UK, Europe, the United States, Asia, Middle East and Africa. This is the Fidelity Bank’s third highly successful outing in the Eurobond market, having
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