Nigeria Business Information
No Result
View All Result
Thursday, May 26, 2022
  • Login
  • Register
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
Subscribe
Nigeria Business Information
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
No Result
View All Result
Nigeria Business Information
No Result
View All Result
Home Nigeria News

Dangote Cement Issues Commercial Papers worth N450 billion in 3 Years

by Temitope O.
August 23, 2021
in Nigeria News

Dangote Cement Plc, Africa’s largest cement producer, says it has issued commercial papers (CPs) worth a total of N450 billion since 2018, naijabusiness.com.ng can authoritatively reveal.

The submission was made by the Chief Executive Officer of Dangote Cement Plc, Michel Puchercos, during the launching of a new N150 billion Commercial Paper (CP) programme.

In a note sent to the Nigerian Exchange Limited (NGX) today, the cement manufacturing giant noted that the new CP programme alongside an existing N300 billion multi-instrument issuance Bond programme, will help broaden the firm’s funding sources and further ease access to capital market funding.

It is pertinent to note that the bulk of the proceeds from the commercial paper issuances initiated by the firm since 2018, have been mostly used to meet working capital requirements general corporate expenses.

READ: DangoteCem Takes Steps to Bring Down Price of Cement

RelatedPosts

Enugu State Universal Basic Education Board (ENSUBEB)- Invitation For Pre-qualification/Bidding For Projects Execution (25 Lots)

Michael Imoudu National Institute For Labour Studies (MINILS)- Invitation For Technical And Financial Tenders And Expression Of Interest For Projects Execution (15 Lots)

Enugu Electricity Distribution Plc (EEDC)- Invitation For Pre-Qualification Of Contractors For The Execution Of Turnkey Projects, Supply Of Materials/Equipment, And Deployment Of Software For Capital Projects (17 Lots)

Commenting on the fact revealing exercise, Michel Puchercos said: ‘’The establishment of a new ₦150 billion Commercial Paper confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.

‘’I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of the commercial paper programme. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement.”

Naijabusiness.com.ng gathered that majority of the CP Issuances since the aforementioned period, have been registered with either the Nigerian Exchange Limited (NGX) or FMDQ Securities Exchange. As at the period of reporting this, Dangote Cement Plc is currently trading at N245 per share.

TOOLKIT: Are You New to Tenders/Contract Bidding and Require Assistance? CLICK HERE

ShareTweetShare

POPULAR

  • Individual Tin

    How to Check for your Individual TIN (Tax Identification Number) Online

    0 shares
    Share 0 Tweet 0
  • Check List of NGO/Governments Tenders with May 2022 Deadlines

    0 shares
    Share 0 Tweet 0
  • International Rescue Committee (IRC)- Invitation To Bid For Supply Of Generators To Her Country Office

    0 shares
    Share 0 Tweet 0
  • International Organization For Migration (IOM)- Invitation To Bid For The Supply And Delivery Of Various IT Equipment For ENBMC (11 Lots)

    0 shares
    Share 0 Tweet 0
  • United States Embassy, Abuja- Request For Quotation For The Supply Of 2HP Panasonic Split Unit A/C (20 Items)

    0 shares
    Share 0 Tweet 0

Copyright © 2021. All Right Reserved Nigeria Business Information

No Result
View All Result
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription

Copyright © 2021. All Right Reserved Nigeria Business Information

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

instagram volgers kopen volgers kopen buy windows 10 pro buy windows 11 pro

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.