Sefton Fross advises on Fidelity Bank Plc’s NGN30 billion Bond Issuance

Sefton Fross advised on the N30 Billion 16.48% Fixed Rate Subordinated Unsecured Bond issued by Fidelity Bank Plc., a commercial bank in Nigeria.

The Bond, due 2022 constitutes Tier 2 capital of the Bank and would be used to finance Small and Medium Enterprises and boost the bank’s retail infrastructure.

Sefton Fross acted as Solicitors to FBN Trustees LimitedUBA Trustees Limited, and Stanbic IBTC Trustees Limited, the Trustees to the Issue.The Sefton Fross transaction team was led by Olayemi Anyanechi and was assisted by Enovwor Odukuye, Alexander Osondu and Olufunmilola Ajayi