Dangote Cement Plans Second Bonds Issuance

Dangote Cement Plans Second Bonds Issuance

Dangote Cement PLC has obtained approval from its Board of Directors to access the Capital Markets for medium to long-term debt funding, the company said in a statement.

According to the statement, the company said it had submitted an application to the Securities and Exchange Commission (SEC) in respect of the bonds, adding that relevant approvals have now been received. READ: Dangote Cement goes to market for series 1 bonds issuance

Management said in a notice that the issuance is part of the cement company’s N300 billion bond issuance programme. Dangote Cement said the bonds will be issued imminently, subject to favourable market conditions.

The cement company has disclosed that the proceeds of the bonds will be applied towards funding expansion projects, refinancing existing short-term debt and for general corporate purposes.

#Dangote Cement Plans Second Bonds Issuance