Fidelity Bank Plc has successfully redeemed its 5-Year US$400 million Senior Unsecured Notes at maturity, reaffirming its commitment to meeting its obligations to investors and reinforcing its track record in the international debt capital markets. Issued on 28 October 2021, the 5-year Eurobond matured on 28 October 2026 and carried an annual coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met all scheduled coupon payments throughout the life of the instrument and has now fulfilled its final repayment obligation in full, covering both principal and accrued interest. The redemption was funded from internally generated liquidity as part of the Bank's forward-looking liquidity management strategy. Through a dedicated sinking fund, Fidelity Bank progressively provided for the maturing obligation, enabling the Bank to meet its commitment while maintaining business-as-usual operations and compliance with applicable regulatory liquidity requirements. Commenting on ...
The New Nigeria Peoples Party (NNPP) says it will not give in to blackmail to backdating the resignation of members, who failed to complete the process before its letter to INEC on the issue. The party also warned those approaching some members of its leadership to desist as falsifying the records is tantamount to criminality. This is contained in a statement signed by its Founder and Chairman Board of Trustees, Dr Boniface Aniebonam on Sunday. In the statement, the NNPP insisted that those approaching it now to backdate their incomplete resignation will not be accommodated for obvious reasons. The party was reacting to controversy within its ranks that some of its elected members affected by the letter to INEC have approached the leadership to backdate their resignation. Recall that the NNPP in a letter to INEC on Monday, Oct. 19, stated that Gov. Abba Yusuf of Kano State, 18 members of the House of Representatives...