Fidelity Bank Plc has redeemed its 400-million-dollar Eurobond at maturity, fulfilling its repayment obligations to international investors.

The five-year Senior Unsecured Notes, issued on October 28, 2021, matured on October 28, 2026, with an annual interest rate of 7.625 per cent, payable every six months.

The bank said it met all scheduled interest payments throughout the five-year period and completed the final repayment of both principal and accrued interest.

The redemption was funded through internally generated liquidity, supported by a dedicated sinking fund established to provide for the maturity.

Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, said the successful repayment reflected the bank's financial discipline, liquidity management and commitment to meeting its obligations to investors.

She said the bank anticipated the maturity and made adequate preparations to fulfil its financial commitments without disrupting normal business operations.

The 2021 Eurobond was Fidelity Bank's third international debt issuance, following earlier offerings in 2013 and 2017, through which it raised 300 million dollars and 400 million dollars respectively.

The 2021 offer attracted investor orders exceeding 700 million dollars.

The latest development follows the completion of the bank's recapitalisation programme ahead of the regulatory deadline, raising its eligible regulatory capital to approximately 533 billion naira, above the 500-billion-naira minimum requirement for banks with international authorisation.

Fidelity Bank says the milestones reinforce its capital position and liquidity management as it continues to pursue its growth objectives across domestic and international markets.