LAPO lists ₦4.46B microfinance bond on Nigeria's FMDQ Exchange
What's the deal? LAPO MFB SPV PLC has listed a ₦4.46 billion Series 1 five-year fixed rate bond on FMDQ Securities ExchangeDealroom has a profile for this one. Try Dealroom →. The bond carries a 20.00% coupon and sits under a wider ₦30.00 billion issuance programme.
Who's behind it? The issuer is a special purpose vehicle raising capital for LAPO Microfinance Bank Limited, one of Nigeria's leading microfinance institutions. FirstCapDealroom has a profile for this one. Try Dealroom → Limited acted as lead sponsor, with AVA Capital Partners Limited as co-sponsor.
What's the money for? Proceeds will expand financing for small and medium-sized enterprises, improve access to renewable energy solutions, and strengthen digital financial services for micro and small businesses across Nigeria.
Why now? The listing taps Nigeria's debt capital market for long-term funding, at a time when microfinance institutions face pressure to extend credit to individuals and small businesses excluded from mainstream banking.
The signal: The deal reflects a maturing debt market channelling capital into financial inclusion. As Oluwaseun Afolabi, senior vice president at FMDQ Exchange, put it, the listing shows the market's "capacity to support long-term funding needs across the financial inclusion space."
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