The Lagos State government has announced that it had closed the N85.14 billion Series II Bond Issuance.
The bond was designed to improve the physical and social infrastructure in the state.
Commissioner for Finance, Akinyemi Ashade says the bond was issued in two tranches of N46.4 billion (16.75 percent Tranche I) maturing August 2024 and N38.8 billion (17.3 percent Tranche II) maturing August 2027, under the N500 billion Third Debt Issuance Programme.
The N85 billion Series II issuance was the largest bond issuance in Nigerian capital markets in the last four years.
