Apparently determined to raise more funds for sustainable growth, the Lagos State Government has listed a N137, 328,000,000 series IV bond on the Nigerian Stock Exchange (NGX).
The listing, which was reflected in a notice by the exchange in its weekly report of activities on the market, indicated that the bond is a 10-Year 13.00 per cent fixed rate unsecured bond that is due 2031 under the N500bn debt issuance programme.
According to the NGX, the bond, which was issued at 100% of par (N1,000), was listed on Friday
The notice by the NGX further reflected that Joint Trustees for the bond included 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.
Similarly, the capital market supervisory institution listed the Joint Stockbrokers as Bancorp Securities Limited, Chapel Hill Denham Securities Limited, FSDH Capital Limited, Lead Securities and Investment Limited, and Meristem Stockbrokers Limited.
Others are 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.
This is even as it disclosed that First Registrars & Investor Services Limited would act as Registrar.
