Zamfara State Sells N7billion Bond At 17%

Zamfara State has issued a seven-year bond at a fixed rate of 17 percent to raise N 7 billion for infrastructure projects, the lead issuing house FBN Capital said on Wednesday. The state which relies on agriculture launched a N30 billion debt programme to help it develop its infrastructure, its advisers said, adding that the first […]

Zamfara State has issued a seven-year bond at a fixed rate of 17 percent to raise N 7 billion for infrastructure projects, the lead issuing house FBN Capital said on Wednesday.

The state which relies on agriculture launched a N30 billion debt programme to help it develop its infrastructure, its advisers said, adding that the first tranche was underwritten on a standby basis.