Dangote Cement Plc has listed its N38.2bn 10-year fixed-rate senior unsecured bonds on the Nigerian Exchange Limited.
The bond, which carries an annual coupon rate of 23.5 per cent, is part of the company’s N300bn multi-instrument issuance programme.
According to a filing by the Head of the Issuer Regulation Department at NGX, Godstime Iwenekhai, the listing took effect on Thursday, March 20, 2025.
The 10-year instrument, which will mature on 30 December 2034, is structured as a senior unsecured bond and will pay interest semi-annually. It was issued at a nominal value of N1,000 per unit, with a total volume of 38,198,800 units. The bond, trading under the symbol ‘23.5 per cent DANGCEM DEC 2034’ and code DAN2034S1, was arranged by Meristem Stockbrokers Limited.
Under the terms of the bond, investors will receive fixed interest payments every six months until maturity, when the principal will be repaid in full unless redeemed earlier under specific conditions outlined in the trust deed.
The PUNCH reported that Dangote Cement Plc raised its Series I bonds under its N300bn multi-instrument issuance programme, adding that the proceeds of the bonds will be applied towards refinancing existing debt and for working capital purposes.
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