Dangote Cement Raised N250bn In Debt Market– FMDQ

Dangote Cement Plc raised a total of N250bn in debt securities in the first half of this year, FMDQ Securities Exchange Limited has said.

According to a statement, the debt securities range from its recent debut N100bn Series 1 Bond under its N300bn Bond Programme to its earlier issued N150bn commercial paper notes (series 13-16 under its N150.00 billion Domestic CP Issuance Programme), all listed and quoted on FMDQ Securities Exchange’s platform.

The Chief Executive Officer of Dangote Cement Plc, Mr Michel Puchercos, was quoted as saying, “This landmark transaction is the largest-ever bond issuance by a corporate issuer in Nigeria.

“It allows us to further broaden our sources of funding by accessing long-term debt at competitive costs from the capital market and builds further on the success of our domestic commercial paper programme.

“The success of these transactions, in the current challenging environment, illustrates investors’ continuous confidence in Dangote Cement’s strategy, strong cash generation and solid credit profile.”

The Executive Director and Head of Debt Capital Markets, Stanbic IBTC Capital Limited, Mr Kobby Bentsi-Enchill, said, “Stanbic IBTC Capital Limited has a long history of partnering with Dangote Cement Plc, and are delighted to have advised on this landmark corporate bond issuance, which reflects the depth and diversity of the Nigerian debt capital markets.