Dangote Cement Plc. disclosed an establishment of a new N150 billion Commercial Paper, as it makes a play at the Nigerian debt capital market.
This was disclosed in a statementmade available to the Nigerian Exchange Limited (NGX), noting that it had made a total of N450 billion in Commercial Paper since 2018.
“The Commercial Paper will be used for working capital and general corporate purposes,” the statement read.
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Speaking on the move, the Chief Executive Officer (CEO), Dangote Cement Plc. Michel Pucheros, said, “The establishment of a new N150 billion Commercial Paper confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of N450 billion in Commercial Papers since 2018.
“I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of the commercial paper programme. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement.”
