Dangote Cement targets N50bn as Series 17, 18 Commercial Paper issuance opens

The Series 17 and 18 Commercial Paper issuance (CP) under the Dangote Cement Plc N150billion CP Issuance Programme is now open and scheduled to close on Thursday September 3, 2020. Dangote Cement Plc targets N50billion from the CP issuance to fund short-term working capital requirements and for general corporate purposes.

The Series 17 with a tenor of 177 days is issued at a discount rate of 3.9240percent and implied yield of 4.000 percent; while series 18 with a tenor of 268 days is issued at a discount of 4.8231 percent and implied yield of 5.0000percent.

Nigeria’s stock market rallies by 2.57% in August

By Iheanyi Nwachukwu • August 31, 2020

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.