Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Dangote Cement’s N50 billion series 4 & 5 commercial paper issuance closes today

Chris UgwubyChris Ugwu
2 months ago
in Business News, Company News, Securities
Dangote Cement issues N50 billion series 4 & 5 commercial paper issuance closes today
Share on FacebookShare on TwitterShare on Linkedin

Dangote Cement’s series 4&5 commercial paper worth N50 billion which was offered for sale on January 30, 2023 is expected to close today.

The debt instrument is being offered for sale under the company’s N150 billion commercial paper issuance programme according to the offer documents obtained by Nairametrics.

The issuance: Subscriptions to this tranche of commercial paper issuance by the cement giant opened Monday, 30 January 2023.

According to a statement seen by Nairametrics, the series 4 has a 183-days maturity period while the series 5 has 267-days tenure.

The six month paper comes with a discounted rate of 12.2045% while the nine month paper is 12.6994%.

The minimum subscription is N5 million and subsequent additions of N1 million.

Purpose of offer: The fresh capital is being sourced by the company to finance its short-term working capital requirements and general corporate purposes.

Dangote Cement is Sub-Saharan Africa’s leading cement producer, with a combined capacity of 51.55Mta (35.25Mta in Nigeria) across its operations in 10 African countries. It operates a fully integrated quarry-to-customer business with activities covering manufacturing, sales and distribution of cement.

Through its investments, the Company eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighbouring countries.

The backstory: Dangote Cement Plc had in 2021 announced the establishment of a new N150 billion Commercial Paper Programme (Commercial Paper).

Dangote Cement’s Deputy Company Secretary , Edward Imoedemhe, explained that the programme would allow the Company to broaden its funding sources and combine with it N300 billion multi-instrument issuance bond programme, increases access to capital market funding.

Related

Tags: Dangote cement

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Cadbury ingenuity kept it profitable but the headwinds are raging
  • NGX All-Share Index defies election jittery, economic headwinds gains 5.8% in Q1 2023
  • Apply: Nigeria’s energy transition office launches writing competition for students targeting climate change, energy systems

Follow us on social media:

Recent News

Cadbury Nigeria Plc reports N1.29 billion pre-tax profit for FY 2022

Cadbury ingenuity kept it profitable but the headwinds are raging

April 1, 2023
NGX All-Share Index

NGX All-Share Index defies election jittery, economic headwinds gains 5.8% in Q1 2023

April 1, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!