MON JUNE 17 2024-theGBJournal| Dangote Sugar Refinery PLC has announced the successful issuance of its N42.79 billion Series 4 and 5 Commercial Paper notes, a short-term debt instrument deployed often to finance short-term liabilities.
The Notes, which were issued under the Company’s N150 billion Commercial Paper Issuance Programme, comprised N12.93 billion 181-day Series 4 and N29.86 billion 265-day Series 5 notes.
The Series 4 notes is priced at a 23.00% yield while the Series 5 notes priced at a 25.00% yield, with participation from several investor groups, including Pension and Non-Pension Asset Managers, as well as other Institutional and Individual Investors.
”The successful issuance of the Notes is in furtherance of the Company’s strategy to diversify its funding sources with funds raised being deployed to support its short-term working capital and funding requirements,” the company’s management said in a Statement.
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