Dangote Industries Limited (DIL), one of the leading, diversified and fully integrated conglomerates in Nigeria and Africa; yesterday announced the successful completion of its N187.6 billion Series 1 Bond Issuance.
The debt instrument, which was the largest corporate bond ever issue in the history of the Nigerian capital market; represented the first issuance by DIL at the Group level. It comprised a 7-year Tranche-A bond issued at 12.75% and a 10-year Tranche-B bond issued at 13.5; under the newly established N300 billion Debt Issuance Programme.
Commenting on the significance of the transaction, the Group Managing Director of DIL, Mr. Olakunle Alake said: “DIL delight to have successfully conducted its debut issuance under our newly established Debt Issuance Programme.
“We are very pleased to have set this remarkable milestone, showcasing the depth and liquidity of the Nigeria debt capital market (DCM). The success of this transaction further demonstrates investor confidence in our credit story; and the appreciation of the work by the Group across several key sectors that are crucial to the development of the continent.
-Thisday