Dangote Cement Announces Plans to Raise New N150B Commercial Paper

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces establishing a new ₦150 billion Commercial Paper Programme (Commercial Paper).

According to the statement released, the company said the programme allows them to broaden funding sources and, combined with the ₦300 billion multi-instrument issuance Bond programme they would be able to increase their access to capital market funding.

The Commercial Paper will be used for working capital and general corporate purposes.

Commenting on the bond issuance, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc, said: “The establishment of a new ₦150 billion Commercial Paper confirms DangoteCement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.

“I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of the commercial paper programme. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement.”