Dangote Cement Plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market, under its NGN300 billion Debt Issuance Programme.
According to the Investor presentation document prepared by the company and themed: Building Prosperity in Africa, the funds from the debut offering in the bond markets are to be utilised to refinance existing short-term debt previously applied towards cement expansion projects, working capital and general corporate purposes.
The bond (medium term debt paper), Dangote Cement is issuing for the first time signifies confidence in business growth and in the Nigerian economy long term growth.
Dangote Cement Plc is a good offer for discerning institutional investors and high networth individuals as it is Nigeria’s largest company by market capitalisation on the Nigerian Stock Exchange, the largest cement manufacturer in Sub-Saharan Africa with an installed capacity of 45.6Mta across its’ operations in 10 African countries and operates a fully integrated “quarry-to-customer” business in 7 of its operations with activities covering manufacturing, sales and distribution of cement.