Business

Dangote Cement issues N250bn in debt securities in 6 months

Dangote Cement Plc has raised a total of N250 billion in debt securities within six months in 2020, according to FMDQ Securities Exchange. According to a statement released by the exchange, the debt securities range from its recent debut N100.00 billion Series 1 Bond under its N300.00 billion Bond Programme, which was 150 per cent oversubscribed, to its earlier issued N150.00 billion commercial paper (CP) notes (series 13-16 under its N150.00 billion Domestic CP Issuance Programme), all listed and quoted on FMDQ Securities Exchange Limited’s platform.

In the same vein, and in support of the market development efforts and initiatives of FMDQ Group, the assets of Dangote Cement Bond are also lodged with FMDQ’s wholly owned central securities depository, FMDQ Depository Limited. Commenting on the recent bond issuance, the Chief Executive Officer of Dangote Cement Plc, Mr. Michel Puchercos, said: “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.”

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