SAT. 25 FEB, 2023-theGBJournal| The Nigerian Exchange Limited (NGX) announced Friday the listing of the Lagos State Government’s N137,328,000,000 Series IV bonds on the Exchange.
It is a 10-Year 13.00% Fixed Rate Unsecured Bond due 2031 Under the N500 billion Debt Issuance program.
The Bond Issuance, which is the largest by any sub-national or State in Nigeria, was signed by the State Governor Babajide Sanwo-Olu in December 2021, and marks the third 10-Year bond instrument by a sub-national issuer with the first and second being Lagos State.
The NGX listed a number of companies as Joint Trustees including 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.
Joint Stockbrokers named are Bancorp Securities Limited, Chapel Hill Denham Securities Limited, FSDH Capital Limited, Lead Securities and Investment Limited, Meristem Stockbrokers Limited, Sigma Securities Limited, Vetiva Securities Limited, Capital Express Securities Limited, FCSL Asset, Greenwich Securities Limited, MBC Securities Limited, Readings Investment Limited, and Signet Investments & Securities Limited.
First Registrars & Investor Services Limited will act as Registrar.
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