Dangote Cement Plc Series 11, 12 and 13 Commercial Paper Opens

Proshare

Wednesday, July 10, 2019   /11:03AM / By Stanbic IBTC Stockbrokers / Header Image Credit:  Youtube

 

Following the successful raise of N100bn in commercial paper series 5 - 10 notes for Dangote Cement Plc (“DCP”), We are pleased to inform you that the Dangote Cement Plc series 11, 12 & 13 commercial paper offer of up to N50bn under the company’s N150bn commercial paper is now open, and scheduled to close on Thursday 11 July, with funding the day after on Friday 12 July 2019.

 

Please see below the amended terms of the offer.

 Issuer:

Dangote Cement PLC

Arranger and Dealer:

Stanbic IBTC Capital Limited

Dealers:

Stanbic IBTC Capital Limited, [•]

Series:

 

11

12

13

Tenor:

 

90-days

180-days

270-days

Target Size:

 

Up to N50billion

Discount Rate (%):

 

12.8308%

12.6587%

12.6987%

Implied Yield (%):

 

13.2500%

13.5000%

14.0000%

Offer Open Date:

Tuesday 09 July 2019

Offer Close Date:

Thursday 11 July 2019

Allotment Date:

Thursday 11 July 2019

Settlement Date:

Friday 12 July 2019

Maturity Date:

10 October 2019

08 January 2020

07 April 2020

Use of proceeds:

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

Issuer Rating:

Aaa (Moody’s); AA+ (GCR)

Minimum Subscription:

N5million

Tax Consideration:

Free and clear of withholding taxes

For further enquiries, send an email to StanbicStockbrokers@stanbicibtc.com



Proshare Nigeria Pvt. Ltd.

 

Related News 

    1. Dangote Cement Plc Series 8, 9 and 10 Commercial Paper To Open Soon
    2.  Dangote Cement Plc Series 5, 6 and 7 Commercial Paper Opens Today
    3. FBNQuest Merchant Bank Shares Insights on Accessing Commercial Papers in Nigeria
    4. Local Markets to Hold Steady as CBN Retains MPR at 13.50%
    5. Money Market Rate Decreased As OVN and OBB Fell To 5.29% and 4.57%
    6. The Bulls Sustain Hold On The T-Bills Market As CBN Halts OMO Auctions; Average Yields Down to 12.3%
    7. T-Bill Rates Decline Further in Absence of CBN OMO Auction
    8. DANGCEM Q1’ 19 - Mounting Competition, Margin Erosion, Declining Earnings
    9. DANGCEM Declares N60.25bn PAT in Q1'19 Results; Earnings Disappoint, EPS Contracts By 16.5% YoY
    10. DANGCEM Notifies of the Company’s AGM
    11. DANGCEM Announces notice of the Company’s Closed Trading Period
    12. DANGCEM Announces the Appointment of Mr. Guillaume Moyen as Acting Chief Financial Officer
    13. DANGCEM Announces the Resignation of Executive-Director, Mr. Brian Egan


    Proshare Nigeria Pvt. Ltd.


    Proshare Nigeria Pvt. Ltd.

    READ MORE:
    Related News
    SCROLL TO TOP