Programme 1 & 2
After the successful redemption of the N15billion floating rate Bond Issuance Programme in Year 2008, the State Government initiated and commenced the multi-tranche N275billion Bond Issuance Programme under which the:
| Description | Amount Issued | Coupon rate | Tenor | Year of Issuance | Status |
|---|---|---|---|---|---|
| Tranche 1 | N50billion | 13% | 5 years | February, 2009 | REEDEMED |
| Tranche 2 | N57.5billion | 10% | 7 years | April, 2010 | REDEEMED |
| Tranche 3 | N80billion | 14.5% | 7 years | November, 2012 | REDEEMED |
| Tranche 4 | N87.5billion | 13.5% | 7 years | November, 2013 | REDEEMED |
Programme 3
Furthermore, Lagos State Government registered the N500billion Bond Issuance Programme in Year 2016, a third Bond Issuance Programme in its series of Bond Issuances, under which N244.387bn has been issued to date as follows:
| Description | Amount Issued | Coupon rate | Tenor | Year of Issuance | Status |
|---|---|---|---|---|---|
| Series 1 | N47billion | 16.5% | 7 years | December, 2016 | REDEEMED |
| Series 2, Tranche 1 | N46.37billion | 16.75% | 7 years | August, 2017 | REDEEMED |
| Series 2, Tranche 2 | N38.77billion | 17.25% | 10 years | August, 2017 | ACTIVE |
| Series 2, Tranche 3 | N6.911billion | 15.60% | 7 years | January, 2018 | ACTIVE |
| Series 2, Tranche 4 | N5.336billion | 15.85% | 10 years | January, 2018 | ACTIVE |
| Series 3 | N100billion | 12.25% | 10 years | January, 2020 | ACTIVE |
| Series 4 | N137.328billion | 13% | 10 years | December, 2021 | ACTIVE |
All the Bond Issuances were actively patronized by investors; the last N100bn 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.