Bauchi State Just Filed For a N15billion Bond

Bauchi State is seeking approval to raise 15 billion naira ($92.05 million) in bonds to fund development projects, the Securities and Exchange Commission (SEC) said on Tuesday.

The SEC said Bauchi state meant to use the funds to finance the completion of an airport and a specialist hospital and to refinance existing bank loans, it said in a notice.

It did not disclose the maturity of the bond or the timing of the issue.

Source: Reuters