Dangote Cement opens N100bn commercial papers for subscription

Dangote Cement Plc. has opened an N100bn billion commercial paper issuance for investors’ subscription.

The offering comprises Series 19, 20, and 21 commercial papers, launched under Dangote Cement’s robust N300bn billion Commercial Paper Issuance Programme.

The primary objective behind the capital raise is to fund the company’s working capital requirements and address other short-term capital needs essential for its extensive operations.

Investors are presented with discount rates across different tenors.

Dangote Cement Cancels 166.95 million Treasury Shares, Reduces Outstanding Share Capital.

A 93-day commercial paper is priced at 19.9334 per cent, offering a competitive return for short-term commitments.

For those seeking a slightly longer horizon, the 184-day paper carries a discount rate of 20.6103 per cent.

The longest tenor available in this tranche, a 268-day paper, is priced at 20.7647 per cent.

Dangote Cement Plc. is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria and has plants or import terminals in nine other African countries.