The InfraCredit’s guaranteed infrastructure bond issuance, Lagos Free Zone (Tolaram)’s ₦17.5bn, 20-year Series 3 Infrastructure Bond Issuance, issued in 2023, has won the award category for “Best Project Bond” from the EMEA FINANCE LIMITED Achievement Awards.
Leveraging the irrevocable and unconditional guarantee of InfraCredit, the LFZC Series 3 Bond reinforces the benchmark set by LFZC Series 1 & 2 Bonds, as the third 20-year non-FGN Bond issue in the Nigerian debt capital market for the development of an industrial hub in Nigeria.
Special economic zones are critical to accelerating Nigeria’s industrialisation, attracting local and foreign direct investment, job creation, and inclusive growth, thus, the success of the 20-year Series 3 bonds reinforces the domestic market opportunity for long-term local currency financing for infrastructure projects, and the unprecedented subscription level by the domestic institutional investors signals a strong demonstration effect to governments as the country seeks private sector participation in bridging the huge infrastructure gap in the country.
The EMEA Finance Awards recognises the achievements of the best banks, asset managers, and financial institutions in countries across the EMEA region that exemplify the innovative work taking place in the region’s capital markets. Nominated by parties, including banks and their clients, and chosen by the EMEA Finance editorial team.
“We are delighted and honoured that this recognition is a result of the team’s hard work, dedication, and real relationships we have built with our clients and development partners by creating value and filling market gaps with innovative solutions,” InfraCredit said.
