Fidelity Bank has announced the results of its September 28, 2017 invitation to holders to purchase its $300 million notes for cash, saying that it received valid tenders for purchase of $255.5 million in aggregate principal amount of notes, representing 85.16 percent subscription rate.
In a statement Thursday, the bank said it intends to accept for purchase such notes validly tendered subject to the financing condition.
“Subject to the minimum denomination, the company will pay for the notes accepted by it for purchase pursuant to the tender offer of a price in cash equal to $1,010 per $1,000 in principal amount of the Notes plus the accrued interest amount,” the statement signed by EzinwaUnuigboje read.
It added that purchase price and the accrued interest amount would be paid on the payment date expected to be on October 16, 2017, but subject to completion of the financing condition.
Frontpage October 23, 2017