Still as part of its commitment to the development of the Nigerian capital markets, FMDQ Securities Exchange Limited (FMDQ Exchange), on Friday said it has approved the Listing of the Fidelity Bank Plc Series 1 ₦41.21bn Fixed Rate Subordinated Unsecured Bond under its ₦100.00 billion Bond Issuance Programme.

The listing, the exchange said, will allow Fidelity Bank with over five million customers serviced across 250 business offices, fund key activities that will ultimately translate in the development of the banking sector and the Nigerian economy at large.

The statement quoted Managing Director/Chief Executive of the bank, Mrs. Nneka Onyeali-Ikpe, as describing the bond as a landmark issuance, which is “by far the largest local bond transaction by any commercial bank in Nigeria, thus validating the continued investor confidence in our well-experienced management team.

“By registering and listing the bonds on FMDQ Securities Exchange Limited, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments,” she added.

Also commenting on the transaction, the Co-CEO, Planet Capital Limited, Efe Akhigbe, expressed delight at sponsoring “the listing of the bond, having led and collaborated with a club of investment banking firms that advised on this Transaction.”

For the company’s Co-CEO, Dr. Tony Anonyai, “the success of the issuance firmly establishes the bank’s position as one of the leading banks in the country and further sets it on the strategic trajectory for market dominance in the coming years. This listing makes for liquidity and price discovery in the marketplace which is a sweetener for the investors”.

FMDQ assured, according to the statement, of its commitment “to articulating and pioneering, with the support of its key stakeholders, innovative ways to improve and make the Nigerian financial markets globally competitive, operationally excellent, liquid, and diverse.”

As is its corporate tradition FMDQ Exchange said “the bonds shall be availed all the benefits of FMDQ Exchange’s prestigious listings and quotations service including global visibility through the FMDQ Exchange website and systems, governance, credible price formation and continuous information disclosure to protect investor interest, amongst others.”