{"id":31270,"date":"2021-06-16T19:11:16","date_gmt":"2021-06-16T18:11:16","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=31270"},"modified":"2021-10-07T00:43:07","modified_gmt":"2021-10-07T00:43:07","slug":"dangote-cement-issues-n50bn-bond","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dangote-cement-issues-n50bn-bond\/","title":{"rendered":"Dangote Cement issues N50bn bond"},"content":{"rendered":"<p>Dangote Cement has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme.<\/p>\n\n\n<p>Mr Michel Puchercos, Chief Executive Officer, Dangote Cement, &nbsp;said the bonds were issued on May 26 at coupon rates of 11.25 per cent , 12.50 per cent and 13.50 per cent for the 3, 5 and 7-year tranches, respectively.<\/p>\n\n\n<p>He said the bond issuance was well received and recorded participation from a wide range of investors, in spite of the market headwinds.<\/p>\n\n\n<p>Puchercos added that the proceeds of the bond would be deployed for the company\u2019s expansion projects, short-term debt refinancing and working capital requirements.<\/p>\n\n\n<p>\u201cAside from this first issuance of a traditional bond under the new multi-instruments programme, Dangote Cement has registered a programme enabling it to consider different types of fixed income instruments to cater for different types of investors,\u201d he said.<\/p>\n\n\n<p>Puchercos explained that the ability to issue Green Bonds and Sukuk would enable the company leverage the depth and breadth of the Nigerian market.<\/p>\n\n\n<p>\u201cThis 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.<\/p>\n\n\n<p>\u201cWe thank the investor community for their continued support in the management of Dangote Cement and their successful participation in the bond issuance,\u201d Puchercos said.<\/p>\n\n\n<p>He added that the bonds would be listed on the Nigerian Exchange Ltd and FMDQ Securities Exchange.<\/p>\n\n\n<p>He said the issuing houses involved in the transaction were Absa Capital Markets Nigeria, Stanbic IBTC Capital, Standard Chartered Capital and Advisory Nigeria Ltd, United Capital, FBN Quest Merchant Bank and FCMB Capital Markets, among others.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-31270\" data-postid=\"31270\" class=\"themify_builder_content themify_builder_content-31270 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Dangote Cement has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme. Mr Michel Puchercos, Chief Executive Officer, Dangote Cement, &nbsp;said the bonds were issued on May 26 at coupon rates of 11.25 per cent , 12.50 per cent and 13.50 per [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,126],"tags":[471],"class_list":["post-31270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-trade-and-industry","tag-cement","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dangote Cement issues N50bn bond - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/dangote-cement-issues-n50bn-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Cement issues N50bn bond - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Dangote Cement has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme. 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