Image Credit: FSDH Capital

April 20, 2022/FSDH Capital

The book build for LFZC Funding SPV PLC’s (“the Issuer” or “the SPV”) Series 2, up to N25,000,000,000 (Twenty-Five Billion Naira) twenty-year fixed rate senior guaranteed Bonds, under its N50,000,000,000 (Fifty Billion Naira) Bond Issuance Programme is now open. The Issuer is a funding vehicle incorporated by Lagos Free Zone Company (“LFZ”, “the Sponsor” or the “Company”) to access the domestic capital markets.

Lagos Free Zone Company is the licensee and operator of the Lagos Free Zone – the first privately owned economic zone in Nigeria. Integrated with a deep seaport (“the Lekki Deep Seaport”), the 850-hectare Lagos Free Zone site, which is promoted by Singapore-based Tolaram, is being developed as a “Live-Work-Play” community and equipped with built-up standard industrial and warehouse facilities. About 23 registered enterprises including some notable international brands have an operational base in the Lagos Free Zone as at year-end 2021.

Please see below, the indicative terms of the proposed offer:

months between Issue Date and 1st repayment date will be noted following the bond issuance  

For more information, please refer to the summary of the offer above, and see the LINK to access the following documents below:

1. Shelf Prospectus
2. Programme Trust Deed
3. Series 2 Pricing Supplement
4. Series 2 Trust Deed
5. Deed of Guarantee
6. Valid PenCom Compliance Certificate
7. Agusto Sponsor and Issue Rating Reports
8. GCR Issue Rating Report
9. Commitment Form
10. HNI Declaration Form;
11. LFZ’s Audited Financial statements (2016-2021)