The Dangote Industries Funding PLC’s Series 1 Bond offer comprising of Tranche A – 7-year and Tranche B – 10-year, fixed rate senior unsecured bonds, under its ₦300 billion debt issuance programme has opened for subscription.
The offer is scheduled to close on Thursday, 30 June 2022. The proceeds will be used for part-financing of the Dangote Petroleum Refinery project.
The Dangote Industries Funding PLC is a funding vehicle incorporated as a wholly owned subsidiary of Dangote Industries Limited to access the domestic capital market.
Dangote Industries Limited is sponsor of the bond while Dangote Oil Refining Company Limited and Dangote Fertiliser Limited named as co-obligors. Afrinvest Capital Limited is listed a join issuing house.
The price guidance for the Series 1 bonds are 12.25% – 12.75% and 13.00% – 13.50% for the Tranche A (7 years), and B (10 years) bonds respectively.
The maturity dates are 2029 for Tranche A and 2032 for Tranche B.
The minimum units of sale is N10 million ((10,000 units at ₦1,000/unit) and multiples of ₦1,000 thereafter,
The bonds will be listed on the FMDQ Securities Exchange Limited and/or Nigerian Exchange Limited.
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Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.