Fidelity Bank Issues Update Invitations to Purchase Notes for Cash

October 12, 2017/NSE

Further to its announcement on 28 September 2017 and the Expiration Deadline at 8 a.m. (London time) on 11 October 2017, Fidelity Bank Plc. (the “Company“) hereby announces the results of its invitation to holders of the U.S.$300,000,000 6.875% Notes due 9 May 2018 (Regulation S: Common Code: 092852725, ISIN: XS0928d27257; Rule 144A: Common Code: 092863310, ISIN: US316044AA48, CUSIP: 316044AA4] (the “Notes“) issued by the Company to tender such Notes for purchase by the Company for cash (the ‘Tender Offer“).

The Tender Offer was made upon the terms and subject to the conditions, including the Financing Condition, set out in a tender offer memorandum dated 28 September 2017 (the “Tender Offer Memorandum“).

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.

Results
The Company has received valid tenders for purchase of US$255,503,000.00 in aggregate principal amount of Notes pursuant to the Tender Offer. The Company hereby announces that, in accordance with the Tender Offer Memorandum, it intends to accept for purchase such Notes validly tendered, subject to satisfaction of the Financing Condition.


Purchase Price
Subject to the Minimum Denomination, the Company will pay for the Notes accepted by it for purchase pursuant to the Tender Offer a price in cash equal to U.S.$1,010 per U.S.$ I ,000 in principal amount of the Notes plus the Accrued Interest Amount. The Purchase Price and the Accrued Interest Amount will be paid on the Payment Date, expected to be on 16 October 2017 but is subject to completion of the Financing Condition. 

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