October 13, 2025/Futureview Update
Futureview Financial Services is pleased to inform you of the launch of Dangote Sugar Refinery PLC’s (“DSR” or the “Company” or the “Issuer”) Series 15 & 16 Commercial Paper offer of up to ₦50 billion under its ₦300bn Commercial Paper Issuance Programme (the “Offer”). The Offer is Now Open and scheduled to close on Wednesday, 15 October 2025.
The Company is a subsidiary of Dangote Industries Limited and engaged in the refining, distributing, and marketing of granulated sugar to wholesalers and top players in the skin care, food and beverage, and pharmaceutical industries. DSR is Sub-Saharan Africa’s largest sugar refinery, with a combined installed refining capacity of 1.49 MMT per annum. In the medium term, the Company is targeting an additional 1.5MMT of refined sugar from locally grown sugarcane and is on track to becoming a leading global integrated sugar producer with its backward integration plan. Please see below indicative terms of the Offer:
Please see below indicative terms of the Offer:
For more information, please refer to the documents listed below, which can be accessed through this link for your appraisal of the Offer:
1. Programme Memorandum
2. Series 15 & 16 Pricing Supplement
3. Series 15 & 16 Commitment Form
4. Ratings reports
5. 2025 PenCom Certificate
6. 2022 – 2024 Audited Financial Statements
7. H1- 2025 Audited Financial Statements
8. HNI Declaration Form
