Dangote Sugar Refinery Plc has notified the Nigerian Exchange Limited (NGX) and the investing public of its successful issuance of N42.79 billion Series 4 and 5 Commercial Paper (CP) notes.
The CP notes issuance had participation from several investor groups, including Pension and Non-Pension Asset Managers, as well as other institutional and individual investors.
The Notes, which were issued under the Company’s N150 billion Commercial Paper
Issuance Programme, comprised N12.93 billion 181-day Series 4 and N29.86 billion
265-day Series 5 notes.
The successful issuance of the Notes is in furtherance of the Company’s strategy to
diversify its funding sources with funds raised being deployed to support its short-
term working capital and funding requirements.
The Series 4 notes priced at a 23 percent yield while the Series 5 notes priced at a 25 percent yield.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
