Fitch Ratings has assigned First Bank of Nigeria Ltd’s (FBN; B+/Stable) USD300m 8.25% subordinated debt (Tier 2 notes) due August 2020 a final rating of ‘B-‘. The notes will be callable in August 2018, at which point the interest rate will reset to the sum of 6.875% plus the prevailing […]
Tag: Nigeria
CRR: Banks may limit participation in bond market
Capital market analysts have said banks may reduce their positions in the fixed income market after the implementation of the Central Bank of Nigeria’s 50 per cent Cash Reserve Requirements on public sector deposits took effect on Wednesday. According to analysts at Meristem Securities Limited, in a report on the […]
Protecting minority shareholders
Recently, there were calls by some stakeholders in the Nigerian Capital Market for regulatory authorities to do more to protect minority shareholders. Simon Ejembi writes on some of the issues raised When the Nigerian Bottling Company Plc got voluntarily delisted from the Nigerian Capital Market in 2011, many people were […]
