FCMB Group Plc has achieved a successful milestone with the completion of the issuance of N26 billion perpetual 16% fixed rate resettable NC5.25 additional tier I subordinated bonds. This issuance, conducted under the N300 billion Debt Issuance Programme, reinforces the group’s dedication to innovation in the Nigerian banking sector, aligning with the Central Bank of Nigeria’s objective of bolstering the capitalization of banks.
The Series 2 Bond issuance was managed by Chapel Hill Denham Advisory Limited and FCMB Capital Markets Limited, serving as the Issuing Houses. The offer received significant market interest, with active participation from a diverse array of high-value investors, including corporates, financial institutions, trustees, and high-net-worth individuals.
The Additional Tier 1 (AT1) instrument was issued at a clearing coupon rate of 16% per annum. The net proceeds from the Series 2 Bond will be infused into the Group’s banking subsidiary, First City Monument Bank Limited, facilitating the execution of the Group and the bank’s long-term strategic objectives.
This successful issuance not only underlines FCMB Group’s commitment to financial innovation but also positions the institution to fortify its capital base and pursue sustained growth in the dynamic Nigerian banking landscape.
