Fidelity Bank Plc has offered to buy back $300 million of debt so as to issue new notes with the aim of extending the maturity of its debt profile.
The bank made this known in a statement on Thursday.
The $300 million of debt, with an interest rate of 6.875 per cent, is due to mature by May 9, 2018.
According to the bank, it will offer $1,010 per $1,000 of notes held.
The bank added that the offer “is being made in connection with a concurrent offering of new unsecured and unsubordinated notes.”
Citigroup Global Markets Ltd and Renaissance Securities (Nigeria) Ltd are managing the deal, Fidelity said.
The offer expires on October 10 and the results will be announced the same day.
Also, Ecobank Transnational has given updates on its $400 million bond issue.
It has appointed transaction advisers to advise on the completion of the structure and terms of their proposed convertible bond issue.
The transaction is reportedly supposed to be completed before the end of 2017.
Consolidated Hallmark Insurance Plc has offered rights issue of 1 billion ordinary shares at the offer price of 50 kobo per share.
According to Consolidated Hallmark, the rights issue is on the basis of 1 new ordinary share for every 6 ordinary shares of 50 kobo each and will be opened for subscription on October 16, 2017.
