12 May 2022
TEMPLARS has advised Lagos Free Zone Company (LFZC) | Lagos Free Zone (Tolaram) on its N25 billion 20-year Series II infrastructure bond issuance, the largest of its kind in Nigeria under a N50 billion programme. This comes less than a year after the successful landmark N10.5 billion Series I infrastructure bond issuance.
The highly oversubscribed issuance was guaranteed by InfraCredit and takes centre stage as an unparalleled 20 year (non-FG or Sub-sovereign issued) corporate bond issuance in Nigeria.
The issuance will advance the implementation of LFZC’s development of the largest integrated port-based economic zone in Nigeria and provide Nigerian manufacturers and businesses with access to regional and international markets, to achieve LFZC’s vision of making Nigeria the preferred industrial hub in West Africa.
The TEMPLARS team was led by Zelda Akindele, Partner (Finance & Capital Markets) supported by Chike Obianwu, Partner (Finance & Capital Markets) and assisted by Associates Michelle Eigbobo, Osahon Omoruyi, Victor Olusegun and Tomisin Olanrewaju.