IFLR1000

Lagos State N47 billion bond issuance

31/12/2016
Investment grade bond/note issue, Sovereign bond issue
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N 47 billion

$ 149.325 million

Completed

31/12/2016

Overview:

  • The Lagos State government issued N47 billion16.5% bonds due 2023, as part of its N500 billion debt programme. 
  • The bonds will help the state to redevelop basic infrastructure. 
  • This was the first offering of the programme, with the state originally offering N60 billion. 

John Crabb - Journalist 

Jurisdiction:

Nigeria

Deal types:

Investment grade bond/note issue
Sovereign bond issue

Practice area:

Capital markets : Debt

Governing law:

Nigeria

Industry sector:

Government and public policy

Firm:
Templars

Party: Lagos State (Issuer)

Lawyers: Chike Obianwu, Zelda Akindele

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