Dangote Cement Plc Series 1, 2, and 3 Commercial Paper Issuance Now Open

Proshare

Thursday, November 18, 2021 / 04:45 PM / by Stanbic IBTC / Header Image Credit: Bloomberg


Proshare Nigeria Pvt. Ltd.


We are pleased to inform you that the Series 1, 2 and 3 Commercial Paper issuance ("CP or the "Issuance"), under the recently established Dangote Cement PLC ("Dangote Cement") NGN150 billion CP Issuance Programme is now open and scheduled to close on Wednesday, 24 November 2021.

 

Dangote Cement PLC is Africa's leading cement producer, with a combined installed capacity of 48.6Mta across its operations in 10 African countries. Dangote Cement operates a fully integrated "quarry-to-customer" business with activities covering manufacturing, sales and distribution of cement. Dangote Cement has a strong track record in the Nigerian debt capital markets, having successfully issued both short and long-term debt.

 

Dangote Cement is assigned a AAA long-term rating by GCR and Aa3.ng long-term rating by Moody's due to its position as one of the largest cement manufacturers in Nigeria and Sub-Saharan Africa. Dangote Cement has also consistently reported robust operating and net profit margins compared to its peers in Sub-Saharan Africa and in other jurisdictions. The Issuer has adequate working capital, satisfactory cash flow, and a very experienced management team. The Issuer is the first Nigerian corporate to receive the AAA issuer rating by GCR.  

 

Please see below, the indicative terms of the proposed offer.

 

 Issuer:

Dangote Cement PLC

 

Arranger and Dealer:

Stanbic IBTC Capital Limited

 

Target Size:

Up to NGN50billion

 

Series:

 1

2

3

 

Tenor:

90-days

180-days

270-days

 

Discount Rate (%):

8.3255%

8.6175%

9.3112%

 

Implied Yield (%):

8.5000%

9.0000%

10.0000%

 

Offer Open Date:

Wednesday, 18 November 2021

 

Offer Close Date:

Wednesday, 24 November 2021

 

Allotment Date:

Wednesday, 24 November 2021

 

Funding Date:

Friday, 26 November 2021

 

Maturity Date:

Thursday,

24 February 2022

Wednesday,

25 May 2022

Tuesday,

23 August 2022

 

Use of proceeds:

To fund short-term working capital requirements and for general corporate purposes

 

Issuer Rating:

AAA (GCR); Aa3.ng (Moody's)

 

Minimum Subscription:

NGN5 million

 

Tax Consideration:

Free and clear of withholding taxes

 

 


Please find attached the following documents:

1.    Programme Memorandum

2.    Pricing Supplement 1, 2 and 3

3.    Commitment Form 1, 2 and 3

4.    Valid PENCOM compliance certificate

5.    Moody's ratings report

6.    GCR ratings report


Proshare Nigeria Pvt. Ltd.


Related News

  1. Dangote Cement 9months 2021 Result: Double-Digit Growth Bonanzastock
  2. Dangote Cement Plc Announces the Demise of Non-Executive Director Alhaji Sani Dangote
  3. Moody's Downgrades Dangote Cement Plc Ratings to B2, Outlook Negative
  4. Dangote Cement Plc Reports N278bn PAT in Q3 2021 Results,(SP:N280.00k)
  5. Dangote Cement Plc Notifies of Board Meeting Date and Commencement of Closed Period
  6. Moody's Announces Completion of a Periodic Review of Ratings of Dangote Cement Plc
  7. Moody's Places Dangote Cement's B1 Ratings on Review for Downgrade

8.     Dangote Cement Plc Reports N192bn PAT in Q2 2021 Results,(Share Price:N248.00k)

9.      Dangote Cement Becomes First Nigerian Company to Report its Results Using XBRL

10.  SEC Approves the Share Buy-back Program Renewal of Dangote Cement Plc Until January 21, 2022

11.   Dangote Cement Acquires 2,000 Trucks for Distribution of Products

12.  Dangote Cement Plc Renews Its Share Buyback Programme

13.  Shareholders of Dangote Cement Plc Approve N272.6bn Dividend for FY 2020

14.  Dangote Cement Plc Releases 2020 Combined Annual and Sustainability Report

15.  DANGCEM Series 1 Fixed Rate Senior Unsecured Bonds, Under the NGN 300bn Programme Now Open

16.  Implications of Tranche 1 Share Buyback Programme by Dangote Cement

17.   Dangote Cement to Commence Tranche 1 Share Buyback Programme by December 30th 2020

18.  DANGCEM Board Proposes Share Buyback And Reverse Share Split To Its Shareholders

19.  Shareholders of Dangote Cement Plc Approve N272.6bn Dividend for FY 2020

20. Dangote Sugar Declares N8.3bn PAT in Q1 2021 Result,(SP:N17.10k)

21.  Dangote Cement Restates Commitment to Closing Demand-Supply Gap

22. Dangote Cement Q1 2021 Result: Revving up Revenues but Growing Debt

23. Coastline Terminals: Dangote Group Does Not Own, Not Affiliated with ICTSI

24. Dangote Cement Plc Releases 2020 Combined Annual and Sustainability Report

25. Dangote Cement Q1 2021 Results Review: Bullish Sentiments Remain Following Strong Q1 Performance

26. Dangote Vs BUA; The Sugar Wars Unredacted

27.  Dangote Cement Q4 2020 Results Review: Bullish Outlook for '21f Driven by Capacity Addition

28. Dangote Cement FY2020 Results: A Revenue Trot and Bottom-line Gallop

29. Dangote Cement Plc Contemplates Debt Funding Options Under Planned N300bn Bond Issuance Programme

30. Dangote Cement to Pay over N97bn in Corporate Tax for Financial Year 2020

 

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP