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Dangote Cement PLC (DANGCEM-NL) (www.DangoteCement.com), the largest cement producer in Africa, announces the issuance of 50 billion series 1 and 2 notes in the of its $ 150 billion Commercial Note Program announced on June 27, 2018. [19659002] The Series 1 and 2 Notes will be listed on the Nigerian ODI FMDQ Trading Exchange on July 19, 2018. Funds raised under the Commercial paper program will be used for capital expenditures, working capital and general objectives. Makoju, general manager of the group, said:
"This landmark transaction is the largest commercial paper issue ever made by an issuing company in Nigeria, allowing us to expand our sources of financing and combine bank credit lines established with access to capital market financing, which will reduce our overall cost of borrowing.
The success of this program reflects the high quality of our operations and the strong cash generation, made possible by our leadership positions in Nigeria and sub-Saharan Africa, where demand for cement is growing rapidly. "
Dangote Cement was advised by Stanbic IBTC Capital Limited as sole arranger and broker, Stanbic IBTC Bank PLC as Issuer and Payor Calculation Agent, Banwo & Ighodalo as Counsel and Deloitte as Issuer Auditors.
Distributed by APO Group on behalf of Dangote Group.
Contact: Carl Franklin Director of Investor Relations Dangote Cement PLC +44 207 399 3070 [email protected]
About Dangote Cement: Dangote Cement (www.DangoteCement.com) is the largest cement producer in Africa with nearly 46 Mt capacity in Africa. A fully integrated customer-to-customer producer, we have a production capacity of 29.25Mta in our home market, Nigeria. Our plant in Obajana, in the state of Kogi, Nigeria, is the largest in Africa with 13.25 Mt of capacity over four lines; Our factory Ibese in the state of Ogun has four cement lines with a combined installed capacity of 12Mta and our Gboko plant in the state of Benue has 4Mta. Thanks to our recent investments, Dangote Cement has eliminated Nigeria's dependence on imported cement and turned the nation into a cement exporter serving neighboring countries.
In addition, we have operations in Cameroon (1.5Mta clinker crushing), Congo (1.5Mta), Ghana (1.5Mta of import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta of import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).
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Image: Issue of 50 Billion Series 1 and Series 2 Notes as Part of a 150 Commercial Paper Program billion of
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