{"id":62702,"date":"2022-07-19T20:49:14","date_gmt":"2022-07-19T19:49:14","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=62702"},"modified":"2022-07-19T20:49:18","modified_gmt":"2022-07-19T19:49:18","slug":"dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/","title":{"rendered":"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond"},"content":{"rendered":"
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

… Transaction Signals Largest Corporate Bond Issuance\u00a0<\/b><\/p>\n

\"\"Dangote Industries Limited (\u201cDIL\u201d or the \u201cGroup\u201d), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, Tuesday, announced the successful completion of its \u20a6187.6bn Series 1 Bond Issuance (the \u201cTransaction\u201d), which is the largest corporate bond ever issued in the history of the Nigerian capital market<\/p>\n

This landmark transaction represents the first issuance by DIL at Group level and comprises of a 7-year Tranche-A bond issued at 12.75% and a 10-year Tranche-B bond issued at 13.50%, under the newly established NGN300 billion Debt Issuance Programme<\/p>\n

The bond issuance was well received by the market and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. DIL plans to utilize the net proceeds from the Series 1 bond issuance to part-finance the Dangote Petroleum Refinery Project, an Integrated Petrochemical Complex, and the largest Single Train Petroleum Refinery in the World.<\/p>\n

\"\"<\/p>\n

Standard Chartered Capital & Advisory Nigeria Limited acted as the Lead Issuing House and Bookrunner on Transaction, while Meristem Capital, Stanbic IBTC Capital, Vetiva Capital, Absa Capital Markets, Afrinvest Capital, Coronation Merchant Bank, Ecobank Development Company, FBNQuest Merchant Bank, FCMB Capital Markets, Greenwich Merchant Bank, Quantum Zenith Capital, Rand Merchant Bank Nigeria and United Capital acted as Joint Issuing Houses.<\/p>\n

Commenting on the significance of the Transaction, Mr. Olakunle Alake, Group Managing Director of Dangote Industries, said: \u201cDangote Industries is delighted 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. The success of this transaction further demonstrates investor confidence in our credit story and the appreciation of the work done by the Group across several key sectors that are crucial to the development of the continent. The proceeds from this landmark transaction will be used <\/a>to part-finance\u00a0the Dangote Petroleum Refinery Project which is the initiative by the Group to establish the largest refinery in Africa, thus positioning Nigeria as a net exporter of refined crude. We want to specially thank the investor community for their support on this transaction, as well as our various advisors and stakeholders.\u201d<\/p>\n

Also speaking on the transaction, Mr. Olukorede Adenowo, Standard Chartered\u2019s Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, said: \u201cOn behalf of the Issuing Houses, we are proud to have led this historic transaction which reflects the strong credit quality of the issuer as well as the resilience of the Nigerian domestic debt capital markets, despite the current global market volatility. We thank the Board and Management of the Dangote Group for continuously striving to develop the domestic debt capital markets and setting records through its various issuances both at the subsidiary and Group levels. We also thank the Securities & Exchange Commission, Nigerian Exchange Limited (\u201cNGX\u201d) and FMDQ Securities Exchange Limited (\u201cFMDQ\u201d) for their unwavering support throughout this entire process.\u201d<\/p>\n

The Bond notes will be listed on the NGX and FMDQ.<\/p>\n

About the Issuer:<\/b><\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Dangote Industries is one of the leading, diversified and fully integrated conglomerate with operations in Nigeria and Africa across a wide range of industries, including cement, sugar, salt, condiments, packaging, energy, fertiliser and petrochemicals. Its core business focus is to provide local, value-added products and services that meet the “basic needs” of the African populace through the construction and operation of large-scale manufacturing facilities in Nigeria and across Africa. DIL is focused on building local manufacturing capacity to generate employment, reduce capital flight from Africa and increase local value additions.<\/p>\n

The Group has 11 distinct business lines, with the cement, sugar and salt business currently contributing majority of the group earnings. These subsidiaries are industry leading players with strong brand values, underpinned by long operational track record, diverse customer base, ongoing investments in capacity expansion and control over their respective value chains. DIL also has two project companies, Dangote Oil Refinery Company Limited (\u201cDORC\u201d) and Dangote Fertilizer Limited (\u201cDFL\u201d), located at the Lekki Free Zone in Lagos State, who (together with DIL) will serve as co-obligors on the Offer. DORC is a 650,000 b\/pd integrated crude oil refinery and petrochemical plant, which is expected to be Africa’s largest oil refinery, while DFL is expected to be Africa\u2019s largest granulated urea fertiliser manufacturing facility, with a production capacity of up to 2.8 Mtpa.<\/p>\n

DIL is currently domestically rated AA+ by GCR and AA (ngr) by Fitch Ratings.<\/p>\n

Photo Caption\u00a0<\/b><\/p>\n

Pix~1, L-R, Sitting, Executive Principal Standard Chartered, Amaka Nsefor, Group Managing Director, Dangote Industries Limited, Olakunle Alake, , Group Treasurer, Dangote Industries Limited, Mustapha Ibrahim, Standing, , Lead Contracts Unit, Dangote Industries Limited, Sulaiman Zubair, Corporate Finance Specialist, Dangote Industries Limited, \u00a0Yusuf Agbolahan, , Group General Manager, Dangote Industries Limited ,Corporate Finance, Tony Esene, At the Dangote Industries Funding Plc, #187,584,545,000.00, 7years & 10-year, Senior Unsecured Fixed Rate Series 1 Tranche A&B Bounds Under the #300,000,000,000, Dangote Industries Funding Plc, Debt Issuances Programme Singing Ceremony, In Lagos on Tuesday, 19 July 2022,<\/i><\/b><\/p>\n

\u00a0<\/i><\/b><\/p>\n

Pix~2, L-R, Executive Principal Standard Chartered, Amaka Nsefor, Group Managing Director, Dangote Industries Limited, Olakunle Alake, Group Treasurer, Dangote Industries Limited, Mustapha Ibrahim, \u00a0At the Dangote Industries Funding Plc, #187,584,545,000.00, 7years & 10-year, Senior Unsecured Fixed Rate Series 1 Tranche A&B Bounds Under the #300,000,000,000, Dangote Industries Funding Plc, Debt Issuances Programme Singing Ceremony, In Lagos on Tuesday, 19 July 2022<\/i><\/b><\/p>\n

\u00a0<\/i><\/b><\/p>\n

\n

\n<\/div>\n

\n<\/div>\n

\n
<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

Dangote Industries Limited (\u201cDIL\u201d or the \u201cGroup\u201d), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, Tuesday, announced the successful completion of its \u20a6187.6bn Series 1 Bond Issuance (the \u201cTransaction\u201d), which is the largest corporate bond ever issued in the history of the Nigerian capital market<\/p>\n","protected":false},"author":6,"featured_media":62703,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[],"coauthors":[2391],"class_list":["post-62702","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news"],"yoast_head":"\nDangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire\" \/>\n<meta property=\"og:description\" content=\"Dangote Industries Limited (\u201cDIL\u201d or the \u201cGroup\u201d), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, Tuesday, announced the successful completion of its \u20a6187.6bn Series 1 Bond Issuance (the \u201cTransaction\u201d), which is the largest corporate bond ever issued in the history of the Nigerian capital market\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-19T19:49:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-19T19:49:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1110\" \/>\n\t<meta property=\"og:image:height\" content=\"888\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg\",\"width\":1110,\"height\":888},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/\",\"name\":\"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#primaryimage\"},\"datePublished\":\"2022-07-19T19:49:14+00:00\",\"dateModified\":\"2022-07-19T19:49:18+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/","og_locale":"en_US","og_type":"article","og_title":"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire","og_description":"Dangote Industries Limited (\u201cDIL\u201d or the \u201cGroup\u201d), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, Tuesday, announced the successful completion of its \u20a6187.6bn Series 1 Bond Issuance (the \u201cTransaction\u201d), which is the largest corporate bond ever issued in the history of the Nigerian capital market","og_url":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/","og_site_name":"National Wire","article_published_time":"2022-07-19T19:49:14+00:00","article_modified_time":"2022-07-19T19:49:18+00:00","og_image":[{"width":1110,"height":888,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2022\/07\/20220719_204306.jpg","width":1110,"height":888},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/","name":"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#primaryimage"},"datePublished":"2022-07-19T19:49:14+00:00","dateModified":"2022-07-19T19:49:18+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-industries-completes-issuance-of-n187-6bn-series-1-unsecured-bond\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Dangote Industries Completes Issuance Of N187.6bn Series 1 Unsecured Bond"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=62702"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62702\/revisions"}],"predecessor-version":[{"id":62706,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/62702\/revisions\/62706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/62703"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=62702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=62702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=62702"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=62702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}