Issuer: Lagos State Infrastructure Sukuk SPV
Size: N29.8 billion
Structure: Forward ijarah lease sukuk
Tenor: Seven years
Banks: Lotus Capital (lead bookrunner), Chapel Hill Denham, Capital Assets, CardinalStone, SCM Capital, Stanbic IBTC (joint bookrunners).
Date: May 2023
With a population of over 20 million, the size and population density of Lagos – Africa’s largest city and Nigeria’s economic powerhouse – creates complex and substantial infrastructure needs in almost every area from telecoms and renewable energy to water and sanitation.
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