Dufil Prima Foods PLC Series 1, 2 and 3 Commercial Paper Now Open

Tuesday, March 03, 2020   /01:48 PM / By Stanbic IBTC Stockbrokers / Header Image Credit: Dufil Prima Foods

We are pleased to inform you of the Series 1, 2 and 3 Commercial Paper issuance ("CP or the "Issuance"), under Dufil Prima Foods PLC's ("Dufil" or the "Issuer") renewed NGN30 Billion programme is now open and scheduled to close on 06 March 2020. Dufil is no stranger to the debt capital markets, having issued an aggregate amount of NGN21 Billion in CPs between 2016 and 2017 and a bond issue due to mature in 2022.

Dufil, the makers of the world's popular brand of Instant Noodle - "Indomie", is Nigeria's pioneer, foremost and largest producer within the noodles segment of the consumer goods industry. The Issuer, with strong parent company support from Tolaram Group, began operations in Nigeria in 1996 via one of its current subsidiaries and owned the first noodles manufacturing plant in Nigeria and the largest in West Africa at the time.

Today, the Issuer continues to dominate the noodle segment (with c.81% market share in Nigeria) by further entrenching its growth strategies centred around a backward integration model and strong distribution network, while also engaging in the production of other complimentary products such as snacks, flour, seasoning, oil and flexible packaging from strategically located factories across Nigeria. Dufil also in the last few years have added new products to its diverse portfolio of staple goods (Emperor, Minimie Instant Noodles and Minimie Pasta).

Please find below a summary of the Offer;

Also please find attached the following documents for your information and use:

1.    Pricing Supplements (Series 1, Series 2 and Series 3)

2.    Commitment Forms (Series 1, Series 2 and Series 3)

3.    Valid Issuer Ratings

4.    Valid PenCom compliance certificate

5.    Business Update Document (available upon request)

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