Dangote Sugar targets N50bn from series 6, 7 commercial paper issuance

Dangote Sugar, NASCON, Dangote Rice merger suspended

Dangote Sugar Refinery Plc has launched its series 6 and 7 Commercial Paper (CP) issuance of up to N50 billion under its N150billion Commercial Paper issuance programme.

The CP issuance, which is still open, is scheduled to close on Thursday December 12, 2024. The CP will be used to support Dangote Sugar Refinery Plc short-term working capital and funding requirements.

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Dangote Sugar Refinery Plc is a subsidiary of Dangote Industries Limited (DIL) and is engaged in the refining, distributing, and marketing of granulated sugar to wholesalers and top players in the skin care, food and beverage, and pharmaceutical industries.

DSR is Sub-Saharan Africa’s largest sugar refinery, with a combined installed refining capacity of 1.49 MMT per annum. In the medium term, the Company is targeting additional 1.5MMT of refined sugar from locally grown sugarcane, and is on track to becoming a leading global integrated sugar producer with its backward integration plan.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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