Dangote Cement Plc Plans to Raise $833m Via Bonds to Fund Expansion

Proshare

Wednesday, March 21, 2018 /02:26 PM / News 

Bloomberg is reporting that Dangote Cement Plans to Sell $833m in bonds for expansion. The debt will be issued in tranches over next three years, says the Chief Financial Officer (CFO) and the company is also considering sale of Eurobonds to improve funding.
 

According to the source, Dangote Cement claimed to have got approval from Nigerian regulators to issue the $833m (N300bn) local currency bonds as it seeks to fund expansion and refinance debt.
 

The Chief Financial Officer (CFO) of the company Brian Egan made this known during an investor conference call on Tuesday. He further said the bond will be issued in tranches of 50 billion naira at a time whenever interest rates are favourable.
 

The building material company is also considering selling Eurobonds to boost its funding. Dangote is planning to spend $350 million on capital projects this year, including the building of export facilities at Nigeria’s seaports, which will see it begin shipments of clinker and cement to neighbouring West African countries, said the CFO.
 

Proshare Nigeria Pvt. Ltd.

Related News

  1. Dangote Cement Reports Q4 2017 Results - Sales and PBT Up By 17% YOY and 116% YOY Respectively
  2. DANGCEM Declares N204.25 bn PAT in 2017 Audited Results,Proposes N10.50K per share Dividend
  3. Dangote Cement Plc Announces Closed Period
  4. ALERT: Dangote Cement Plc Trades 73.17% of Total Market Volume Today
  5. Dangote Cement Plc Appoints Mr Viswanathan Shankar as a Non-Executive Director
  6. Movers and Shakers in 2017 - DANGCEM, GUARANTY Record Growth in MKT CAP as FO, MOBIL Lead Otherwise
  7. Dangote Cement Plc. - Retaining Neutral Rating
  8. Dangote Cement Plc - Don’t Lose Much Sleep Over 2018
  9. Dangote Cement Plc - On Track for Strong FY Close; Quarterly Decline Worrying
  10. Mr Onne Van de Weijde Steps Down as CEO of Dangote Cement Plc
  11. Dangote Cement Q3’17 Results - Negative Surprises in Gross Margin and OPEX
  12. DANGCEM Declares N193.14 billion PAT in Q3 2017 Result,(SP:N220.00k)
  13. Implications of the Proposed Acquisition of PPC by DANGCEM
READ MORE:
Related News
SCROLL TO TOP