Lagos lists N137bn bond on NGX

NGX market cap gains N1.8tn in July

The Lagos State government has listed a N137, 328,000,000  series IV bond on the Nigerian Stock Exchange.

This was revealed in a notice by the exchange in its weekly report of activities on the market.

NGX said 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..

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The bond was listed on Friday. The bond was issued at 100 per cent of par (N1,000).

Joint Trustees for the bond include 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.

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First Registrars & Investor Services Limited will act as Registrar.


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