Dangote Cement Plc Series 5, 6 and 7 Commercial Paper Opens Today

Proshare

Wednesday, May 22, 2019  08:11 PM / By Stanbic IBTC Stockbrokers

 

Stanbic IBTC Capital Limited, Coronation Merchant Bank Limited and FCMB Capital Markets Limited are pleased to inform you that the Dangote Cement PLC Series 5, 6 & 7 Commercial Paper offer opens today, Wednesday 22 May 2019 and will close on Friday 24 May 2019.

 

Please see below, a summary of the indicative terms of the offer.

 

 Issuer:

Dangote Cement PLC

Series:

 

5

6

7

Tenor:

 

93-days

178-days

269-days

Target Size:

 

Up to N50billion

Discount Rate (%):

 

12.0000

12.3000

12.0000

Implied Yield (%):

 

12.3785

13.0849

13.1642

Offer Open Date:

Wednesday, 22 May 2019

Offer Close Date:

Friday, 24 May 2019

Allotment Date:

Friday, 24 May 2019

Settlement Date:

Monday, 27 May 2019

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

 

Kindly find attached the following documents

  1. Valid PenCom Compliance Certificate (can be provided)
  2. Ratings Report issued by Moody’s and GCR (can be provided)
  3. Pricing Supplements

 

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


Proshare Nigeria Pvt. Ltd. 


Related News

1.       FBNQuest Merchant Bank Shares Insights on Accessing Commercial Papers in Nigeria

2.      Local Markets to Hold Steady as CBN Retains MPR at 13.50%

3.      Money Market Rate Decreased As OVN and OBB Fell To 5.29% and 4.57%

4.      The Bulls Sustain Hold On The T-Bills Market As CBN Halts OMO Auctions; Average Yields Down to 12.3%

5.      T-Bill Rates Decline Further in Absence of CBN OMO Auction

6.      DANGCEM Q1’ 19 - Mounting Competition, Margin Erosion, Declining Earnings

7.      DANGCEM Declares N60.25bn PAT in Q1'19 Results; Earnings Disappoint, EPS Contracts By 16.5% YoY

8.     DANGCEM Notifies of the Company’s AGM

9.      DANGCEM Announces notice of the Company’s Closed Trading Period

10.  DANGCEM Announces the Appointment of Mr. Guillaume Moyen as Acting Chief Financial Officer

11.   DANGCEM Announces the Resignation of Executive-Director, Mr. Brian Egan


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP