Sky Trustees Limited Named Lead Trustee as Lagos State Breaks ₦230 bn Bond Record, Launches ₦14.8 bn Green Bond
Lagos State has once again made history in Nigeria’s capital market by issuing a record-breaking N230 billion sub-national bond, with Sky Trustees Limited appointed as the lead trustee. This milestone highlights the state’s strong fiscal management and its commitment to tapping into capital markets to fund critical infrastructure and development projects.
In addition to the landmark bond Lagos state also pioneered the N14.8 billion Green Bond, marking a significant step toward sustainable financing in Nigeria. The green bond will support environmentally friendly projects, including renewable energy initiatives and climate-resilient infrastructure. This move positions Lagos as a trailblazer in integrating sustainability into public finance.
Market analysts note that the bond issuance demonstrates investors’ confidence in Lagos State’s financial governance. The transaction attracted robust subscription from both institutional and retail investors, reflecting strong demand for sub-national bonds and sustainable investment instruments.
Market analysts note that the bond issuance demonstrates investors’ confidence in Lagos State’s financial governance. The transaction attracted robust subscription from both institutional and retail investors, reflecting strong demand for sub-national bonds and sustainable investment instruments.
This dual issuance underscores the potential for Nigerian states to leverage capital markets for development while embracing green finance trends. For investors, it presents a unique opportunity to participate in Nigeria’s evolving bond market, offering competitive returns with social and environmental impact
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