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    Dangote Cement announces successful issuance of N50bn bond

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    Godwin Okaforhttps://naija247news.com
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    Lagos, June 16, 2021 Dangote Cement Plc has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme.
    Mr Michel Puchercos, Chief Executive Officer, Dangote Cement, disclosed this in a statement made available to newsmen on Wednesday in Lagos.
    Puchercos said the bonds were issued on May 26 at coupon rates of 11.25 per cent , 12.50 per cent and 13.50 per cent for the 3, 5 and 7-year tranches, respectively.
    He said the bond issuance was well received and recorded participation from a wide range of investors,
    in spite of the market headwinds.
    Puchercos added that the proceeds of the bond would be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements.
    “Aside from this first issuance of a traditional bond under the new multi-instruments programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different types of investors,” he said.
    Puchercos explained that the ability to issue Green Bonds and Sukuk would enable the company leverage the depth and breadth of the Nigerian market.
    “This bond issuance allows us move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy, while improving our cost competitiveness.
    “We thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance,” Puchercos said.
    He added that the bonds would be listed on the Nigerian Exchange Ltd and FMDQ Securities Exchange.
    He said the issuing houses involved in the transaction were Absa Capital Markets Nigeria, Stanbic IBTC Capital, Standard Chartered Capital and Advisory Nigeria Ltd, United Capital, FBN Quest Merchant Bank and FCMB Capital Markets, among others.

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