Lagos Issues A N137 Billion Bond On NGX

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A N137,328,000,000 class IV bond issued by the Lagos State government has been placed on the Nigerian Stock Exchange.

This information was provided in a notification by the exchange in its weekly report on market activity. According to NGX, the bond was issued as part of the N500 billion debt issuance program and is a 10-year, 13% fixed rate unsecured bond that is due in 2031.

The bond was first issued at par (N1,000). Apel Capital & Trust Limited, FBNQuest Trustees Limited, Radix Trustees Limited, STL Trustees Limited, ARM Trustees Limited, Paxhill Minerva Limited, Sterling Asset Management and Trustees Limited, and United Capital Trustees Limited are all joint trustees for the bond.
The Registrar will be First Registrars & Investor Services Ltd.


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