Dangote to Raise N150 Billion From Debt Market

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.