Programme 1 & 2
After the successful redemption of the ₦15billion floating rate Bond Issuance Programme in Year 2008, the State Government initiated and commenced the multi-tranche ₦275billion Bond Issuance Programme under which the:
| Description | Amount Issued | Coupon rate | Tenor | Year of Issuance | Status |
|---|---|---|---|---|---|
| Series 1 | ₦50billion | 13% | 5 years | February, 2009 | REEDEMED |
| Series 2 | ₦57.5billion | 10% | 7 years | April, 2010 | REDEEMED |
| Series 3 | ₦80billion | 14.5% | 7 years | November, 2012 | REDEEMED |
| Series 4 | ₦87.5billion | 13.5% | 7 years | November, 2013 | REDEEMED |
Programme 3
Furthermore, Lagos State Government registered the ₦500billion Bond Issuance Programme in Year 2016, a third Bond Issuance Programme in its series of Bond Issuances, under which ₦244.387bn has been issued to date as follows:
| Description | Amount Issued | Coupon rate | Tenor | Year of Issuance | Status |
|---|---|---|---|---|---|
| Series 1 | ₦47billion | 16.5% | 7 years | December, 2016 | REDEEMED |
| Series 2 | ₦46.37billion | 16.75% | 7 years | August, 2017 | REDEEMED |
| Series 3 | ₦38.77billion | 17.25% | 10 years | August, 2017 | ACTIVE |
| Series 4 | ₦6.911billion | 15.60% | 7 years | January, 2018 | ACTIVE |
| Series 5 | ₦5.336billion | 15.85% | 10 years | January, 2018 | ACTIVE |
| Series 6 | ₦100billion | 12.25% | 10 years | January, 2020 | ACTIVE |
| Series 7 | ₦137.328billion | 13% | 10 years | December, 2021 | ACTIVE |
All the Bond Issuances were actively patronized by investors; the last ₦100bn Bond which was the largest Bond Issuance by a Sub-national was massively over-subscribed which is a testament to high level of investor confidence in the present Administration. The Bond proceeds has contributed positively towards economic and social growth development while bridging Infrastructural deficit in the State.
Programme 4
| Description | Amount Issued | Coupon rate | Tenor | Year of Issuance | Status |