Dangote Cement Opens N100bn Commercial Papers for Subscription
Dangote Cement Plc has opened N100 billion in commercial papers for investors’ subscription, details from its offer document revealed. The cement company launched Series 19, 20, and 21 commercial paper offers under its N300 billion Commercial Paper Issuance Programme on Tuesday.
The amount Dangote Cement seeks to raise from the commercial papers is intended to be used to fund the company’s working capital requirement and other related short-term capital need.
The company prices 93-day commercial paper at 19.9334%; 184-day commercial paper attracts 20.6103% as a discount rate, while 268-day paper is priced at 20.7647%.
Details showed that the offer, which has been officially opened, is scheduled to close on Friday, 13 June 2025. Dangote Cement is sub-Saharan Africa’s leading cement producer, with a combined capacity of 52Mta (35.3Mta in Nigeria) across its operations in 10 African countries.
The cement company operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement. Through its investments, the company eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighbouring countries, Cowry Asset Limited said in a pitch note. Nigeria’s Banking Sector Stable, CBN Reassures Nigerians
