Dangote Lists N100 Billion Series 1 Bonds on Nigerian Stock Exchange

Dangote Cement Plc Listed N100 Billion Series 1 Bonds on Stock Market

Dangote Cement Plc on Monday listed N100 billion Series 1 Senior Unsecured Bonds on the Nigerian Stock Exchange.

The five years N100 billion bonds with 12.50 percent fixed rate was listed under the N300 billion Debt Issuance Program of Dangote Cement Plc.

According to the statement released through the Nigerian Stock Exchange and signed by Godstime Iwenekhai, Head, Listings Regulation Department, the bonds were 100 percent subscribed.

The company said “Dealing Members are hereby notified that the N100 Billion, 5 Years 12.50% Fixed Rate Series 1 Senior Unsecured Bonds due 2025 under the N300 Billion Debt Issuance Program of Dangote Cement Plc were today, Monday, 15 June 2020 listed on The Nigerian Stock Exchange. The Bonds were 100% subscribed.”

Coupon payment date, according to Dangote Cement will be “Semi-annually, on 30 October and 30 April of each year commencing on 24 April 2020 until the maturity date.”

While stating that “The Series 1 Bonds shall be redeemed in full on the Maturity Date unless previously redeemed pursuant to Condition 5 of the Series 1 Trust Deed.”

See the details below.