Bonds

Dangote to Raise N150 Billion From Debt Market

Cement trucks, operated by Dangote Cement Plc, deliver supplies to the construction site for the Eko Atlantic city project, developed by Eko Atlantic, near Victoria island in Lagos, Nigeria, on Friday, Feb. 12, 2016. Eko Atlantic city is an area of land reclaimed from the Atlantic ocean being developed into 10 million square meters of real estate. Photographer: George Osodi/Bloomberg

The Nigerian Exchange Limited said on Tuesday that Dangote Cement Plc listed three N50bn tranches of bonds under the N300bn Debt Issuance Programme.

According to the NGX, the bonds are 3.64 million units of a three-year 11.25 per cent senior unsecured fixed rate bond due 2024; 10.45 million units of a five-year unsecured fixed rate bond due 2026; and a seven-year 13.50 per cent senior unsecured fixed rate bond due 2028.

It said the bonds were issued on May 26, 2021 by Dangote Cement and brokered by Meristem Securities.

The NGX said in a market bulleting that the bonds could be acquired at par N1000 per unit of the bond and would mature in May of the last year of tenor as applicable to each bond.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Samed Olukoya

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