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Dear Esteemed Investor:

Fidelity Bank Plc is offering up to 75 billion Series 1 Bond (the “Offer”) under its 100 billion Bond Issuance Programme.

Fidelity Bank Plc is a top Tier-II Bank contributing to the economic and social development of our Country having carved a niche in financing the all-important small and medium scale enterprises (SMEs) and select Corporate Banking Businesses with the attendant positive impact on entrepreneurship and employment growth in Nigeria amongst others. Fidelity Bank has a digital-led retail strategy that provides its customers with several e-channel service options and a virtual assistant currently ranked the Best in the KPMG 2020 Digital Channels Assessment.

Fidelity Bank has a strong corporate governance structure and a solid and stable executive management team with robust history of superior financial performance and returns. Fidelity Bank is one of the only 6 Nigerian Banks and the only Tier-II Bank that conduct interim audit and its currently rated “A” with stable outlook by Agusto & Co.

For more information on the Offer, please refer to the summary terms indicated below and download the Offer Documents below.

Issuer
Fidelity Bank Plc
Issue Size
Up to NGN75,000,000,000.00
Minimum Subscription
N10,000,000.00 (Ten Million Naira) or 10,000 units & multiples of 1,000 units.
Par Value
At par NGN1,000 for each unit of the Bond
Series
Series 1
Tenor
10 years
Maturity Date
2030
Redemption / Payment Basis
Bullet repayment at maturity or on call, at par. The bond can be called partially or wholly at par at any time after 5 years.
Method of Distribution
Book building
Price Guidance
6.50% to 7.50% p.a
Coupon Basis
Fixed, semi-annual
Issuer Rating
Agusto & Co. (A)
Issue Rating
Agusto & Co. (A-), DataPro Credit Rating (A)
Eligible Investors
Qualified Institutional Investors
Book build open
December 7, 2020
Book build close
December 18, 2020
Use of Proceeds
To support growth in the Issuer’s risk assets in SME and retail business as well as investments in technology and retail infrastructure.
Pension Compliance
Qualifies as securities in which Pension Fund Assets & Trustees can invest under the Pensions Reforms Act 2014 and the Trustees Investments Act, Cap T22, LFN, 2004
Listing(s)
FMDQ Securities Exchange and/or The Nigerian Stock Exchange
Receiving Banks
StanbicIBTC Bank and United Bank for Africa (UBA)
Lead Issuing House
Planet Capital Limited
Joint Issuing Houses
Absa Capital Market Nigeria Limited, Afrinvest West Africa Limited, Cordros Capital Limited, Cowry Asset Management Limited, FCMB Capital Limited, FSL Securities Limited, Futureview Financial Services Limited, Kairos Capital Limited, Renaissance Capital, Stanbic IBTC, UCML Capital Limited, United Capital Plc, Vetiva Capital Management Limited

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