Fidelity Bank Plc has redeemed and delisted its N30 billion bond, two years ahead of the redemption period.
Fidelity Bank had offered N30 billion, 16.48 per cent fixed rate seven-year subordinated unsecured bonds due 2022. But the bank opted for early redemption in November 2020.
The Nigerian Stock Exchange (NSE) has subsequently delisted the entire 30 million units of the Fidelity Bank’s N30 billion bond.
According to the NSE, the delisting became imperative as Fidelity Bank opted for early redemption of the bonds in November 2020 having obtained the Central Bank of Nigeria (CBN)’s “No- Objection” to early redemption of the bond.