Dealing Members on the Nigerian Stock Exchange (NSE) were today notified that the N100 Billion, 5 Years 12.50% Fixed Rate Series 1 Senior Unsecured Bonds due 2025 under the N300 Billion Debt Issuance Program of Dangote Cement Plc were listed on the NSE on Monday, 15 June 2020.
The Bonds were 100 percent subscribed.
The total program amount is N300 billion and the coupon will be paid Semi-annually, on 30 October and 30 April of each year commencing on 24 April 2020 until the maturity date in 2025.
The Series 1 Bonds shall be redeemed in full on the Maturity Date unless previously redeemed pursuant to Condition 5 of the Series 1 Trust Deed.
The Stockbroker for the Dangote Cement offer was Meristem Stockbrokers Limited.
Nigerian Corporates have been on a Commercial Paper issuing spree in recent years with some N380 billion due to be refinanced in 2020.