Dangote Cement listed 100 billion bond at 12.5 percent and oversold

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Tue, 19 May 2020 21:45:50 +0000
Bonds

Bonds sales worth N100 billion was issues by Dangote Cement Plc and it was oversubscribed by investors, said the cement maker on Thursday.

The transaction logged under the N300 billion bond programme of the largest cement producer in Africa. The exercise received subscriptions of N155 billion and it will mature in April 2025.

The debt was sold at a coupon rate of 12.50 percent.