. As Board admits Nigerian Breweries ₦67bn commercial papers
FMDQ Securities Exchange Limited Listing Board says it has approved the quotation of the Dangote Cement PLC ₦44billion Series 4, and ₦46billion Series 5 Commercial Papers (CPs) under its ₦150billion CP Programme on its platform.
In a similar development, the Board also admitted the Nigerian Breweries PLC ₦16.49billion Series 1, ₦5.03billion Series 2, and ₦45.74billion Series 3 CPs under its ₦100billion CP Programme on January 30.
The Exchange in a statement described Dangote Cement as “one of Africa’s largest cement producers, with a production capacity of 51.6 million tonnes per year across 10 countries.”
It explained that the proceeds from the Dangote Cement Series 4 and 5 CPs, will be used to fund expansion projects, refinance short-term debts, as well as working capital expenditure.
These new series are sponsored by Stanbic IBTC Capital Limited (Lead Sponsor), ARM Securities Limited, FSDH Capital Limited and Quantum Zenith Capital & Investments Limited (Co-Sponsors) – all Registration Member (Quotations).
The admission of these CPs and other debt securities on the Exchange, by corporates across diverse sectors, continue to validate its innovation, efficiency, and operational excellence.
Nigerian Breweries
In the case of Nigerian Breweries, the Issuer is said to be “the pioneer and largest brewing company in Nigeria, engaged in the making and selling of lager, stout, non-alcoholic malt, and soft drinks.”
“Nigerian Breweries operates over 10 breweries and approximately two malting plants across the country,” it added.
The Exchange explained that “Through the registration of this CP Programme, the Issuer is availed the opportunity to raise short-term finance from the Nigerian debt markets at a time it deems suitable, through CP issuances, within the CP Programme limit.”
The Breweries’ CPs are sponsored by Stanbic IBTC Capital Limited (the Lead Sponsor), FCMB Capital Markets Limited and FBNQuest Merchant Bank Limited, all Registration Member (Quotations) of the Exchange.
FMDQ believes the admission of these CPs and other debt securities on the Exchange, by corporates across diverse sectors, continue to validate its innovation, efficiency, and operational excellence.
