LAPO Microfinance Bank has announced the launch of its N10 billion 5-year fixed-rate senior unsecured bond under the N30 billion Debt Issuance Programme.
This issuance marks a significant milestone for LAPO MFB in its strategic use of the domestic capital markets to fund its expansion and growth plans.
The offer, which opened on March 23, 2026, is scheduled to close on April 1, 2026, and the coupon will be paid semi-annually, with the principal due at maturity.
What the Offer Circular Says
- Issuer: LAPO MFB SPV Plc
- Series: Series 1 Bond
- Tenor: 5 years
- Price Range: 19.00% – 20.00% p.a. (finalized post-book build)
- Redemption: Bullet repayment; principal to be repaid at maturity
- Coupon: Fixed rate, semi-annual payments
- Issue Rating: BBB- (Agusto & Co.) / BBB- (GCR)
- Minimum Subscription: N20,000,000 (20,000 units at N1,000/unit), multiples of N1,000 thereafter
- Use of Proceeds: To support LAPO MFB’s financial inclusion initiatives, particularly expanding access to financial services for small businesses and underserved communities in Nigeria.
