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FMDQ admits Dangote Cement Series 1 bond

FMDQ Securities Exchange Limited (FMDQ ) has approved the listing of the Dangote Cement Plc’s N3.64 billion Series 1 (Tranche A), N10.45 billion Series 1 (Tranche B) and N35.91 billion Series 1 (Tranche C) Fixed Rate Bonds under its N300.00 billion Multi-Instrument Issuance Programme on its platform. The listing comes shortly after the successful registration of the Dangote Cement Plc ₦100.00 billion Commercial Paper Programme within the same period.

The Multi-Instrument Programme allows the Issuer to raise funds from the DCM through the issuance of various medium- to long-term debt securities such as green bonds, sukuk etc., which enables the Issuer leverage the depth and breadth of the Nigerian DCM. The proceeds from the Dangote Cement Plc Series 1 Tranches 1- 3 bonds will be used to fund expansion projects, refinance short-term debts, as well as working capital expenditure. Commenting on the successful bond issuance, Mr. Michel Puchercos, Group Managing Director, Dangote Cement, stated: “This bond issuance allows us move a step further in achieving our expansion objectives and will be deployed to projects instrumental in supporting our export strategy while improving our cost competitiveness.

 

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