• Wednesday, February 21, 2024
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Dangote Cement quotes additional series of Commercial Paper on FMDQ Exchange

Dangote Cement quotes additional series of Commercial Paper on FMDQ Exchange

FMDQ Exchange, through its Board Listings and Markets Committee, has approved the quotation on its platform, the Dangote Cement Plc N44billion Series 4 and N46 billion Series 5 Commercial Papers (CPs) under its N150 billion CP Programme.

Dangote Cement Plc is one of Africa’s largest cement producers, with a production capacity of 51.6 million tonnes per year across ten (10) countries.

The proceeds from the Dangote Cement Series 4 and 5 CPs, which are sponsored by Stanbic IBTC Capital Limited (Lead Sponsor), ARM Securities Limited, FSDH Capital Limited and Quantum Zenith Capital & Investments Limited (Co-Sponsors) – all Registration Member (Quotations) will be used to fund expansion projects, refinance short-term debts, as well as working capital expenditure.

Read also: USAID convenes Nigeria’s industry leaders to discuss importance of infrastructure investment

Corporate institutions have continued to explore alternative financing options by tapping the Nigerian debt markets to sustain their business activities and plug capital shortfalls.

FMDQ Securities Exchange Limited provides access to capital for corporate Institutions through its efficient and proficient Securities Admission Franchise.

The admission of these CPs and other debt securities on the Exchange, by corporates across diverse sectors, continue to validate FMDQ Exchange as the choice platform for the registration, listing and quotation of debt securities in the Nigerian financial markets.

It also lays credence to the innovation, efficiency, and operational excellence for which the Exchange is reputed for, as endorsed by issuers, investors, and other market stakeholders.