FMDQ Securities Exchange Limited has approved the listing of Lagos State Government’s dual-series bonds worth N244.82 billion. The announcement was made on Tuesday, 24 February, following a meeting of the Exchange’s Board Listings and Markets Committee.
The listing includes a N14.82 billion five-year 16% Series 3 Fixed Rate Green Bond and a N230 billion 10-year 16.25% Series 4 Fixed Rate Bond. Both bonds were issued under Lagos State’s N1 trillion Debt and Hybrid Instrument Issuance Programme.
Proceeds from the green bond will fund renewable energy, clean transportation, water management, climate resilience, and environmentally responsible urban infrastructure. The Series 4 bond is intended to provide stable long-term financing for state infrastructure projects.
Also Read: Wase Alleges Boko Haram Infiltration in Security Recruitment Lists
The dual-series listing, sponsored by Chapel Hill Denham Advisory Limited, reinforces Lagos State’s position in Nigeria’s domestic debt capital market and supports its ongoing efforts to finance sustainable development and major infrastructure projects.
Leave feedback about this
You must be logged in to post a comment.