Overview:
Dangote Sugar Refinery has successfully issued Series 4 and 5 Commercial Paper notes to raise a total of N42.79 billion. This issuance is part of the company's N150 billion Commercial Paper Issuance Programme.
Details of the Issuance:
- Total Amount Raised: N42.79 billion
- Series 4 Notes: N12.93 billion, 181-day maturity, priced at a 23.00% yield
- Series 5 Notes: N29.86 billion, 265-day maturity, priced at a 25.00% yield
Investor Participation:
The issuance attracted strong interest from a diverse group of investors, including:
- Pension asset managers
- Non-pension asset managers
- Other institutional investors
- Individual investors
Purpose of the Issuance:
The funds raised through these commercial paper notes will be used to:
- Support the company's short-term working capital needs
- Meet other funding requirements
Company Statement:
Temitope Hassan, the Company Secretary, highlighted that the successful issuance reflects investor confidence in Dangote Sugar Refinery's business model and growth prospects. He emphasized that this move is part of the company's strategic efforts to diversify its funding sources.
Conclusion:
The issuance of the N42.79 billion commercial paper notes by Dangote Sugar Refinery underscores the company's robust financial strategy and the strong trust investors place in its operations and future growth.
Dangote Sugar Refinery has successfully issued Series 4 and 5 Commercial Paper notes to raise a total of N42.79 billion. This issuance is part of the company's N150 billion Commercial Paper Issuance Programme.
Details of the Issuance:
- Total Amount Raised: N42.79 billion
- Series 4 Notes: N12.93 billion, 181-day maturity, priced at a 23.00% yield
- Series 5 Notes: N29.86 billion, 265-day maturity, priced at a 25.00% yield
Investor Participation:
The issuance attracted strong interest from a diverse group of investors, including:
- Pension asset managers
- Non-pension asset managers
- Other institutional investors
- Individual investors
Purpose of the Issuance:
The funds raised through these commercial paper notes will be used to:
- Support the company's short-term working capital needs
- Meet other funding requirements
Company Statement:
Temitope Hassan, the Company Secretary, highlighted that the successful issuance reflects investor confidence in Dangote Sugar Refinery's business model and growth prospects. He emphasized that this move is part of the company's strategic efforts to diversify its funding sources.
Conclusion:
The issuance of the N42.79 billion commercial paper notes by Dangote Sugar Refinery underscores the company's robust financial strategy and the strong trust investors place in its operations and future growth.