Dangote cement to sell N300 Billion bonds
Dangote cement PLC reveals it got approval from the Nigeria regulatory bodies to sell N300 billion worth of bonds to the public to enable it fund immediate projects namely expansion and refinancing debts.
According to its chief financial officer Brain Egan, the bond will be issued in tranches of N50 billion when ever interest rate gets favorable, Egan disclosed this during investors summit on Tuesday.
Dangote cement is as well considering to sell Euro bonds to boost funding in the same capacity as soon as interest rate appreciates.
The company has position it self to spend $350 million on capital projects this year. This will extend to building export facilities at Nigeria sea ports, to as well commence the shipment of clinker and cement to other neighbouring African countries.
The company owned by African richest man Alhaji Aliko Dangote said it made a revenue that stands at 31 Percent to N806 billion as net income rose 43 percent to N204 billion. Sales volumes however declined by 7 percent due to the downturn in Nigerian market.
According to Egan, “The company sees high volume this year as Nigeria economy is gradually recovering from recession.”
Raphael Orji is a Digital Marketing Expert, Seasoned and Dynamic Freelancer, with interest in Banking, Personal finance, Entrepreneurial development. A Councillor and Motivational Speaker.
In need of highly purposeful driven articles that will resonate with your audience,
Want this kind of article that engages, converts and compels your readers to buy from you,
If you want search Engines like Google, Bing and Yahoo to send and open the floodgates of readers to your website/blog on daily basis,
Want to rank your website/blog
I’m here for you!
Come right in let’s talk.
Call: +234 7034847816 available on WhatsApp.