The Lagos State Government has announced the closing of its N47 billion Bond Issuance under the N500 billion Third Debt Issuance Programme targeted at improving the physical and social infrastructure base of the State.

The Book Keeping was concluded on Friday December the 23rd, 2016 with the first issuance priced at 16.5 per cent.

Governor Akinwunmi Ambode in his remarks at the signing ceremony in Ikeja said that despite the continued challenges in the economy and difficult market conditions Lagos State sold some 80 percent.

On his part, Chief Executive Officer, Chapel Hill Denham, Financial Advisers and Lead Book Runners, Bolaji Balogun said Lagos State was leading from the front in the issuance of Bond despite the prevailing market dynamics.