May 4, 2022
Lagos, Nigeria

DANGOTE CEMENT COMPLETES ISSUANCE OF N116B SERIES 2 FIXED RATE SENIOR UNSECURED BOND

Dangote Cement PLC (“Dangote Cement” or the “Company”), Sub-Saharan Africa’s largest cement producer, is pleased to announce the successful completion of its ₦116Billion Series 2 Bond issuance (the “Bond Issuance”), which is the largest corporate bond issuance in the history of the Nigerian Capital Markets.

The Bond Issuance, which is the second issuance under the Company’s ₦300Billion Multi-Instrument Issuance Programme, attracted participation from a wide array of institutional investors including pension funds, asset managers, banks, insurance companies and high net-worth individuals. The Bond Issuance comprised three tranches: a 5-year Tranche A issuance priced at 11.85%, a 7-year Tranche B issuance priced at 12.35%, and a 10-year Tranche C issuance priced at 13.00%. The proceeds of the Bond Issuance will be used to finance the Company’s Nigeria expansion projects, short-term debt refinancing and working capital requirements.

Stanbic IBTC Capital acted as Lead Issuing House/Bookrunner to the Bond Issuance, whilst Absa Capital Markets, Meristem Capital, Standard Chartered, United Capital, Coronation Merchant Bank, Ecobank Development Company, FBNQuest Merchant Bank, FCMB Capital Markets, Futureview Financial Services, Vetiva Capital, Quantum Zenith Capital and Rand Merchant Bank Nigeria acted as Joint Issuing Houses.

Commenting on the Bond Issuance, Mr Michel Puchercos, Group Managing Director of Dangote Cement, said:

“Dangote Cement is delighted to have successfully undertaken a second issuance under our Multi-Instrument Issuance Programme which was launched last year, and even more delighted to have concluded the most significant corporate bond issuance in the history of the Nigerian Debt Capital Markets. This landmark transaction would fund our expansion projects and further support the implementation of our export strategy. I want to thank our stakeholders and investor community for their strong participation in another Bond issuance with the Company.”

The Bond notes will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange.

Enquiries: InvestorRelationsDangoteCement@dangote.com