By Kazeem Ugbodaga
The Lagos State Government says it has redeemed the N57.5 billion bond, which is the second series under the State’s initial N275 billion programme launched on December 31, 2008.
Commissioner for Finance, Adeyemi Ashade said on Monday that at the time of its issuance, the N57.5 billion bond was the first sub-national issuance to be undertaken by way of a book build.
He said in accordance with the provisions of Section 236 of the Investments and Securities Act 2007, requiring that the Register of Bondholders (‘the Register’) be closed 21 days preceding interest payments.
“The Register was closed on Wednesday, March 29, 2017. Subsequently, the Registrars effected payment of the principal and final coupon payment on Wednesday,April 19, 2017,” he said.
Ashade quoted Governor Akinwunmi Ambode as saying that “the payment of the bond holders of…
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