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Home Companies Company News

Dangote Cement Plc N150billion commercial paper MoU signing ceremony in Lagos, on Tuesday, July 3, 2018

NM Partners by NM Partners
July 4, 2018
in Company News, Corporate Updates
Aliko Dangote at 62
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Dangote Cement PLC (DANGCEM-NL) (www.DangoteCement.com), Africa’s largest cement producer, announces the issuance of 50 billion Series 1 and 2 Notes under its 150 billion Commercial Paper Programme, announced on 27th June 2018.

The Series 1 and 2 Notes will be listed on Nigeria’s FMDQ OTC Securities Exchange on 19th July 2018. Funds raised in the Commercial Paper (CP) Programme will be used for capital expenditure, working capital and general corporate purposes.

L-R: Partner, Deloitte & Touche, Abraham Udenani; Chief Executive, Stanbic IBTC Capital, Funso Akere; Group Managing Director, Dangote Industries Limited, Olakunle Alake; and Group Managing Director, Dangote Cement Plc, Engr. Joseph Makoju, at the Dangote Cement Plc N150billion commercial paper MoU signing ceremony in Lagos, on Tuesday, July 3, 2018.

Joe Makoju, Group Chief Executive Officer, said: “This landmark transaction is the largest-ever Commercial Paper issuance by a corporate issuer in Nigeria. It allows us to broaden our sources of funding and combine established bank lines of credit with access to capital market funding, which will lower our overall cost of borrowing.

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L-R: Partner, Deloitte & Touche, Abraham Udenani; Chief Executive, Stanbic IBTC Capital, Funso Akere; Group Managing Director, Dangote Industries Limited, Olakunle Alake; and Group Managing Director, Dangote Cement Plc, Engr. Joseph Makoju, at the Dangote Cement Plc N150billion commercial paper MoU signing ceremony in Lagos, on Tuesday, July 3, 2018.

The success of this programme reflects the high quality of our business and its strong cash generation, made possible by our market-leading positions in Nigeria and across Sub-Saharan Africa, where demand for cement is growing rapidly.”

L-R: Chief Executive, Stanbic IBTC Capital, Funso Akere; Group Managing Director, Dangote Industries Limited, Olakunle Alake; Group Managing Director, Dangote Cement Plc, Engr. Joseph Makoju; and Partner, Banwo & Ighodalo, Ayotunde Owoigbe, at the Dangote Cement Plc N150billion commercial paper MoU signing ceremony in Lagos, on Tuesday, July 3, 2018.

Dangote Cement was advised by Stanbic IBTC Capital Limited as Sole Arranger and Dealer, Stanbic IBTC Bank PLC as Issuing Calculation and Paying Agent, Banwo & Ighodalo as Legal Counsel and Deloitte as Auditors to the Issuer.

About Dangote Cement 

Dangote Cement is Africa’s leading cement producer with nearly 46Mta capacity across Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 29.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines; our Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta and our Gboko plant in Benue state has 4Mta. Through our recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.

In addition, we have operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).


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Tags: Commercial PaperSeries 1 and 2 notes
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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Comments 1

  1. Businessinfo says:
    July 4, 2018 at 9:31 pm

    Sir, kindly work on the refineries too and bail Nigerians from “fuel today No fuel tomorrow” !

    Reply

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