Leading cement company in Nigeria, Dangote Cement Plc, is offering commercial paper worth N100 billion for sale to investors.
Subscription for the exercise commenced on Tuesday, June 10, 2025, and will close on Friday, June 13, 2025, according to details of the proposed transaction.
The cement giant is selling the debt instrument in three tenors under Series 19, 20, and 21, through its N300 billion commercial paper issuance programme.
Funds from the sale of the commercial paper would be used to finance the company’s operations, Dangote Cement said in the offer documents.
Business Post reports that the minimum subscription for the exercise is N5 million and N1,000 thereafer, with applicable taxes to apply on the instrument except otherwise exempt.
Series 19 of the CP has a maturity of 93 days at discount rate of 19.93 per cent, the Series 20 has a tenor of 184 days at discount rate of 20.61 per cent, and Series 21 matures in 268 days at discount rate of 20.77 per cent.
Dangote Cement is a major player in the Nigerian cement ecosystem, controlling about 57 per cent market share.
The company boasts a combined capacity of 52Mta (35.3Mta in Nigeria) across its operations in 10 African countries, operating a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement.
Through its investments, the organisation eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighbouring countries.