Subscription for the N50 billion Series 15 and 16 commercial paper sale of Dangote Sugar Refinery Plc has commenced.
The exercise is under the N300 billion commercial paper issuance programme of the leading Nigerian sugar manufacturer.
Business Post gathered that the N50 billion CP sale is scheduled to close on Wednesday, October 15, 2025, according to details of the exercise.
Series 15 of the CP has a tenor of 180 days and is offered at a discount rate of 17.37 per cent and an implied yield of 19.00 per cent, while the Series 16 has a maturity of 270 days with a discount rate of 18.55 per cent and an implied yield of 21.50 per cent.
Dangote Sugar is raising the fresh capital to run its operations, and investors are expected to buy the papers with at least N10 million.
The target investors are strictly qualified institutional investors and high net worth individuals (HNIs).
Dangote Sugar is the subsidiary of Dangote Industries Limited. It is engaged in the refining, distributing, and marketing of granulated sugar to wholesalers and top players in the skin care, food and beverage, and pharmaceutical industries.
The company is sub-Saharan Africa’s largest sugar refinery, with a combined installed refining capacity of 1.49 MMT per annum.
In the medium term, the organisation is targeting an additional 1.5MMT of refined sugar from locally grown sugarcane and is on track to becoming a leading global integrated sugar producer with its backward integration plan.