Nigeria's Fidelity Bank eyes up to 50bn naira debt sale before Q2

LAGOS: Nigeria's Fidelity Bank aims to sell up to 50 billion naira ($163.2 million) in Tier II debt before the second quarter of next year to refinance existing bonds as yields fall, the mid-tier lender said on Friday.

Bond yields have been declining on the local debt market before a central bank policy last week aimed at forcing lenders to boost credit to businesses and consumers which could swell naira liquidity on the money market.