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21 September 2021



TEMPLARS advised the Lagos Free Zone Company (LFZC) on the landmark issuance of its debut =N=10.5 billion 20-year Series 1 Infrastructure Bond under a =N=50 billion programme.

The issuance is guaranteed by Infracredit and represents a market-leading issuance as the 1st 20 year (non-FG or Sub-sovereign issued) corporate bond issuance in Nigeria. This is also the 1st to be approved by the Security and Exchange Commission as an Infrastructure bond for the development of an industrial hub.

This issuance marks a significant investment milestone in the implementation of LFZC’s long term strategy to develop the foremost industrial hub in Nigeria, which will serve as a base for leading Nigerian manufacturers and businesses and an entry point for global players seeking a foothold in West Africa.

The TEMPLARS team was led by Partner, Zelda Akindele supported by Associates, Promise Madubuobu, Michelle Eigbobo, Osahon Omoruyi and Jeremiah Ojo.