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news: Dangote Cement Plans to Sell $833 Million in Bonds for Expansion

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Dangote Cement Plc said it got approval from Nigerian regulators to issue 300 billion naira ($833 million) in local-currency bonds as it seeks to fund expansion and refinance debt.

Africa’s largest producer of the building material plans issue the debt over three years, Chief Financial Officer Brian Egan said during an investor conference call on Tuesday. The bond will be issued in tranches of 50 billion naira at a time whenever interest rates are favorable, said Egan.

The company, controlled by Africa’s richest man Aliko Dangote, is also considering to sell Eurobonds to boost its funding, Egan said. Dangote is planning to spend $350 million on capital projects this year, including the building of export facilities at Nigeria’s seaports, which will see it begin shipments of clinker and cement to neighboring West African countries.



news: Dangote Cement Plans to Sell $833 Million in Bonds for Expansion

No Plot Image

Dangote Cement Plc said it got approval from Nigerian regulators to issue 300 billion naira ($833 million) in local-currency bonds as it seeks to fund expansion and refinance debt.

Africa’s largest producer of the building material plans issue the debt over three years, Chief Financial Officer Brian Egan said during an investor conference call on Tuesday. The bond will be issued in tranches of 50 billion naira at a time whenever interest rates are favorable, said Egan.

The company, controlled by Africa’s richest man Aliko Dangote, is also considering to sell Eurobonds to boost its funding, Egan said. Dangote is planning to spend $350 million on capital projects this year, including the building of export facilities at Nigeria’s seaports, which will see it begin shipments of clinker and cement to neighboring West African countries.



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