Dangote Cement to issue bonds under N300bn programme

Dangote Cement Plc has obtained approval of its board of directors to access medium to long-term debt funding from the domestic capital markets.

The company had filed an application with the Securities and Exchange Commission in respect of the bonds, and relevant approvals have now been received, it said in a statement on Friday.

“The bonds will be issued imminently, subject to favourable market conditions. The proceeds of the bonds will be applied towards refinancing existing debt and for working capital purposes,” it said.