The Dangote Cement Series 17 and 18 Commercial Paper issuance set to raise N50 billion is now open and scheduled to close on Thursday, 03 September 2020.
The new series are part of the N150 billion CP shelf program filed by Dangote Cement and have an implied yield of 4 percent and 5 percent.
Minimum investors subscription to the offer is pegged at N5 million, while proceeds will be used to fund short term working capital requirements.
Dangote Cement is the largest cement manufacturer in Sub-Saharan Africa with an installed capacity of 45.6Mta across its operations in 10 African countries.
Dangote Cement is assigned AA+ long-term rating by GCR and Aa2.ng long-term rating by Moody’s. It is one of the few corporates in Nigeria with a top-notch rating of AA+.
Stanbic IBTC Capital limited is the lead arranger and dealer for the offer.