Dangote Industries Funding Plc has announced the successful completion of a N187.58 billion Series 1 (Tranche A and Tranche B) Fixed Rate Senior Unsecured Bond Issue under its N300 billion Debt Issuance Programme sponsored by Dangote Industries Limited (DIL).
The Bond Issue represents the largest local currency bond
issuance by a corporate issuer in the history of the Nigerian debt capital
markets.
The Bond Issue comprised 7-year Tranche A and 10-year
Tranche B bonds. The 7-year Tranche A bonds priced at 12.75% and the 10-year
Tranche B bonds priced at 13.50%.
Commenting on the landmark issuance at the Signing Ceremony,
Managing Director of DIL, Mr. Olakunle Alake expressed delight at the
remarkable success of the Bond Issue and thanked the Issuing Houses and other
professional parties for working tirelessly to ensure the timely and successful
completion of the Bond Issue.
According to him, “We are highly pleased at the level of
reception from the investor universe on the Series I bond issuance and to have
set this remarkable milestone, showcasing the depth and liquidity of the
Nigeria Debt Capital Market.
“The success of this transaction further demonstrates
investor confidence in our credit story and the appreciation of the work done
by the Group across several key sectors that are crucial to the development of
the continent.”
Commenting on the Bond Issue, Managing Director/Chief
Executive Officer of Vetiva Capital Management Limited, Chuka Eseka said, “Vetiva is delighted to have acted as
Joint Lead Issuing House/Bookrunner on the Series 1 Bond Issuance – which
represents the largest single bond issuance by a corporate in the Nigerian
capital market.”
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