Culled—Proshare
July 10, 2019
By Stanbic IBTC Stockbrokers
Following the successful raise of N100bn in commercial paper series 5 – 10 notes for Dangote Cement Plc (“DCP”), We are pleased to inform you that the Dangote Cement Plc series 11, 12 & 13 commercial paper offer of up to N50bn under the company’s N150bn commercial paper is now open, and scheduled to close on Thursday 11 July, with funding the day after on Friday 12 July 2019.
Please see below the amended terms of the offer.
| Issuer: | Dangote Cement PLC | ||||||
| Arranger and Dealer: | Stanbic IBTC Capital Limited | ||||||
| Dealers: | Stanbic IBTC Capital Limited, [•] | ||||||
| Series: | 11 | 12 | 13 | ||||
| Tenor: | 90-days | 180-days | 270-days | ||||
| Target Size: | Up to N50billion | ||||||
| Discount Rate (%): | 12.8308% | 12.6587% | 12.6987% | ||||
| Implied Yield (%): | 13.2500% | 13.5000% | 14.0000% | ||||
| Offer Open Date: | Tuesday 09 July 2019 | ||||||
| Offer Close Date: | Thursday 11 July 2019 | ||||||
| Allotment Date: | Thursday 11 July 2019 | ||||||
| Settlement Date: | Friday 12 July 2019 | ||||||
| Maturity Date: | 10 October 2019 | 08 January 2020 | 07 April 2020 | ||||
| Use of proceeds: | To fund short-term working capital requirements and for general corporate purposes | ||||||
| Issuer Rating: | Aaa (Moody’s); AA+ (GCR) | ||||||
| Minimum Subscription: | N5million | ||||||
| Tax Consideration: | Free and clear of withholding taxes | ||||||
For further enquiries, send an email to StanbicStockbrokers@stanbicibtc.com
