Oyo state raises N4.8bn in 7-year bond

LAGOS (Reuters) – Nigeria’s southwestern state of Oyo has raised 4.8 billion naira ($24 million) through
[pro_ad_display_adzone id=”10″]a 7-year bond with a fixed rate of 16.5 percent to fund infrastructure projects, the fund manager FBN Capital said on Wednesday.

The bond was part of the state’s 55 billion naira bond issuance programme for building of roads, hospital facilities and water production.

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