August 26, 2021
Press Release on Commercial Paper Programme
Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, announces a new ₦150 billion Commercial Paper Programme. This Programme allows us to broaden our potential funding sources and, combined with our ₦300 billion multi-instrument issuance Bond programme, increases our access to capital market funding.
The Commercial Paper Programme will be used for working capital and general corporate purposes.
Commenting on the programme, Michel Puchercos, Chief Executive Officer of Dangote Cement Plc, said:
“The establishment of a new ₦150 billion Commercial Paper Programme confirms Dangote Cement Plc’s ambition to maintain its long and successful track record of accessing the Nigerian debt capital market. Dangote Cement has issued an aggregate of ₦450 billion in Commercial Papers since 2018.
I want to thank our stakeholders and investors who contributed to the success of all the previous issuances of commercial papers and bonds. We look forward to the same warm reception as we engage with fixed income investors under this new programme. Thank you again for your continued trust in Dangote Cement Plc.”
Deputy Company Secretary