July 19, 2019 / 12:24 PM / a month ago

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

LAGOS, July 19 (Reuters) - 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. (Reporting by Chijioke Ohuocha; editing by Jason Neely)

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