FIDELITY Bank Plc has settled its $400 million Eurobond at maturity after five years, using internally generated liquidity to meet the repayment obligation without seeking additional external funding.
The repayment was disclosed by Chairman and Chief Executive Officer of Air Peace, Mr Allen Onyema, in a congratulatory statement issued on Sunday.
Onyema described the development as evidence of the bank’s financial strength, disciplined management and ability to meet major obligations through prudent liquidity planning.
He said the bank’s decision to finance the repayment entirely from internal resources demonstrated its capacity to manage foreign-currency liabilities while maintaining financial stability.
In a 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.
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He also attributed the bank’s financial progress to the leadership of Nneka Onyeali-Ikpe, its Managing Director and Chief Executive Officer, whom he credited with strengthening the institution’s financial position.
Onyema congratulated the bank on completing its recapitalisation ahead of the Central Bank of Nigeria (CBN)’s deadline, describing the two developments as indicators of sound corporate governance, financial planning and institutional discipline.
The repayment marks the conclusion of Fidelity Bank’s $400 million international borrowing, which provided access to foreign-currency funding through the international capital market.
Eurobonds allow companies and financial institutions to raise funds from investors outside their domestic markets. However, they also expose borrowers to foreign currency repayment obligations and require careful liquidity and risk management.
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Onyema said financially stable banks were critical to the growth of capital-intensive businesses, particularly aviation, where operators require substantial investments in aircraft, fleet expansion, maintenance and infrastructure.
He stressed the importance of reliable financing and stronger partnerships between financial institutions and domestic businesses in supporting investment, expansion and economic competitiveness.
The Air Peace chairman expressed confidence in Fidelity Bank’s ability to sustain its performance and achieve further milestones under its current leadership.
He congratulated Onyeali-Ikpe, the bank’s board, management and employees on the repayment.
