Templars advises on Oyo State Government’s N4.8 billion Development Bond

Templars has advised as Solicitor to the Issue on the recent issuance of N4.8 billion 16.5% Fixed Rate Development Bonds due 2022 by the Oyo State Government.

The bond issuance, which received final regulatory approval from the Securities and Exchange Commission on 27 March, 2015, was the first issuance to be undertaken by the State under its recently established N55 billion debt issuance programme.
FBN Capital Limited acted as Lead Issuing House while Vetiva Capital Management Limited acted as Financial Advisers to the State and Joint Issuing House.

The Templars team on the transaction was led by Corporate partner Olumide Akpata and Finance partner Chike Obianwu, assisted by senior associate Temple Uchegbune, and associates Tinuke Ojo, Simisola Folarin, Stanley Nweke-Eze and Evans Ogbeide (from Disputes Resolution).