CHANNELS TV
The Lagos State government has floated 47 billion Naira or 154.50 million Dollars bonds to finance the basic infrastructure needs of the state.
According to governor Akinwunmi Ambode, the debt which matures in 2023 comes with a 16.5 percent coupon rate with the first tranche of a 500 billion Naira.
The state had offered a 60 billion Naira worth bonds and sold some 80 percent it offered at a 57 basis points spread.
The debt programme was approved in September by the House of Assembly.
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