FLOURMILL Issues Up To N20bn In 3-Yr and 5-Yr Series 3 Bonds

Proshare

Friday, January 17, 2020 / 12:30 PM / NSE / Header Image Credit: Nairametrics


Flour Mills of Nigeria Plc (referred to as "Flour Mills" or "FMN"), Nigeria's leading integrated food business and agro-allied Group, owners of the iconic brand - 'Golden Penny', today announced that following approval by its Board of Directors, it intends to issue up to N20,000,000,000 (Twenty Billion Naira only) in medium-term bonds subject to appropriate pricing.


The bonds, which are expected to be Senior Unsecured Fixed Rate Bonds with tenors of 3 and 5 years respectively, are part of its previously-approved N70, 000,000,000 (Seventy Billion Naira only) Bond Issue Programme. The process of obtaining requisite approvals from the Securities and Exchange Commission (SEC) for issuance of the bonds has begun.


The management of FMN has disclosed that the proceeds from the bonds will be used to refinance existing short-term debt and increase further the efficiency of its balance sheet, with the ultimate objective of maximizing the wealth of its shareholders.


Visit Flour Mills of Nigeria Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

Proshare Nigeria Pvt. Ltd.

 

Table: Unaudited Q3 2019 Results

 Proshare Nigeria Pvt. Ltd.

  

Proshare Nigeria Pvt. Ltd.


Related News

1.         FLOURMILL Declares N4.24 billion PAT in Q1 2020 Results,(SP:N14.85k)

2.        FLOURMILL Declares N4.00bn PAT in 2019 Audited Result,(SP:N16.20k)

3.        FLOURMILL Notifies of Late Filing of the Company's 2019 AFS

4.        FLOURMILL Notifies of a Court Ordered Meeting of the Share Holders of the Company

5.        FLOURMILL Declares N7.89 bn PAT in Q3'19 Results,(SP:N19.00k)

6.        Flour Mills of Nigeria Plc Q1 2019 Conference Call and Earnings ...

7.         FLOURMILL to Hold Its 58th AGM on Thursday, 3oth August 2018

8.         FLOURMILL Announces to Pay Final Dividend for the Year Ended 31st March 2018

9.         Conference Call Memo on Flour Mills of Nigeria Plc FY 2018 Results

10.      FLOURMILL to Hold Its AGM on Thursday, 30th of August, 2018

11.       Flour Mills of Nigeria Q4 2018 Results - Sales Down by -14% YoY to N115.16bn

12.      FLOURMILL Declares N13.62bn PAT in 2018 Audited Result,(SP:N32.00k)

13.      Flour Mills of Nigeria Plc Rights Issue Closes on 21 February 2018

14.      Flour Mills of Nigeria Plc Proposed 1.48bn Rights Issue


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP