Lafarge Africa Plc has announced the redemption of its matured N33.6billion
Bond due on June 15, 2021.
The Company registered a N100 billion Bond issuance programme in June 2016, out of which the sum of N60billion was issued in Series 1 and 2 of the programme.
The matured Series 1 Bond was issued on June 10, 2016, with a 3-year tenor and at a fixed coupon of 14.25percent, which has been repaid, while the matured Series 2 Bond issued on June 15, 2016, with a 5-year tenor at a fixed tenor of 14.75percent has now been repaid, the company said in a notice at the Nigerian Exchange Limited (NGX)
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Lafarge Africa Plc leveraging on its performance and its recently concluded Management strategic plans to systematically deleverage the Company has redeemed the Series 2 Bond from internally generated cashflow.
In view of this, the Company has no outstanding issued Bond under the N100 billion Bond issuance Programme.
