Aliko Dangote’s cement company to engage investors in new $364.4-million debt facility
The issuance reflects Dangote Cement’s continued interest in engaging fixed-income investors.
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The issuance reflects Dangote Cement’s continued interest in engaging fixed-income investors.
Dangote Cement recently listed three tranches of N50-billion bonds on the Nigerian Exchange.
Shares in the leading cement manufacturer have been on the rise since June 1.
The issuance is the first made under its new $731-million (N300 billion) multi-instrument issuance program
The chairman and single majority shareholder, Dangote founded the cement company in 1981.
Dangote Cement has restated its commitment to bridge the supply gap and help reduce prices.
The billionaire’s net worth peaked at $18.4 billion earlier this year in January.
The Nigerian Senate has called for liberalizing cement policy to boost production and reduce market prices.
Aliko Dangote will take home $615.83 million in dividends from his 86-percent share in his cement business for 2020.
Aliko Dangote lost $1.2 billion in paper net worth in February.