Fidelity Bank Plc has repaid its $400m Eurobond in full at maturity, five years after its issuance, using funds generated entirely from its internal liquidity resources.
The repayment was disclosed in a statement issued on Sunday by the Chairman and Chief Executive Officer of Air Peace, Allen Onyema, who congratulated the bank on fulfilling its debt obligations.
Onyema described the development as evidence of Fidelity Bank’s financial strength and capacity to meet its obligations without relying on external funding.
In a congratulatory message issued on behalf of Air Peace’s board, management and staff, Onyema commended Fidelity Bank for honouring its obligations throughout the five-year tenure of the Eurobond, particularly its decision to finance the full repayment from internal liquidity.
The repayment brings to a close the bank’s five-year $400m international borrowing, with the debt fully settled at maturity.
The statement read, “The Chairman and Chief Executive Officer of Air Peace, West and Central Africa’s largest airline, Dr Allen Onyema, has congratulated Fidelity Bank Plc on the successful repayment of its $400m Eurobond at maturity, describing the achievement as a remarkable demonstration of financial strength, institutional discipline and visionary leadership.
“In a congratulatory message issued on behalf of the Board, Management and Staff of Air Peace Limited, Onyema commended the Bank for meeting its obligations throughout the five-year tenure of the Eurobond, particularly its decision to fund the repayment entirely from internal liquidity.”
Eurobonds are debt instruments issued in international capital markets, enabling institutions to raise foreign-currency funds from investors outside their domestic markets.
For Nigerian banks, the instruments provide access to international financing but also create foreign-currency repayment obligations that must be managed alongside domestic liquidity needs.
Onyema attributed the bank’s financial position to the leadership of its Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, whom he credited with strengthening the institution.
He also congratulated Fidelity Bank on completing its recapitalisation ahead of the deadline set by the Central Bank of Nigeria.
According to Onyema, the two developments underscored the importance of sound corporate governance, financial planning and disciplined management in maintaining confidence in the banking sector.
He also highlighted the role of financially stable banks in supporting the growth of capital-intensive industries, particularly the aviation sector.
Onyema noted that airline operations require significant investment in aircraft acquisition, fleet expansion, maintenance and other operational infrastructure, making access to reliable financing crucial to the industry’s growth.
