Dangote Cement Plc has opened a N100 billion commercial paper offer for subscription as part of its ongoing efforts to finance short-term capital needs. The offer, launched on Tuesday, includes Series 19, 20, and 21 under the company’s N300 billion Commercial Paper Issuance Programme.
Proceeds from the offer are earmarked to support the company’s working capital requirements and other short-term funding needs.
According to the offer document, the 93-day commercial paper is priced at a discount rate of 19.9334 percent, while the 184-day and 268-day papers carry discount rates of 20.6103 percent and 20.7647 percent, respectively.
The subscription window opened this week and will close on Friday, 13 June 2025.
Dangote Cement, a dominant player in the sub-Saharan African cement market, operates in 10 countries with a total production capacity of 52 million metric tonnes annually—35.3 million tonnes of that in Nigeria alone. The company runs an integrated operation from quarrying to distribution, and it has played a central role in reducing Nigeria’s reliance on cement imports, transforming the country into a net exporter to neighbouring markets.
Cowry Asset Limited, in its pitch note, highlighted Dangote Cement’s continued strategic role in regional industrial growth and infrastructure development.
