WorldStage Newsonline– Dangote Sugar Refinery PLC has announced that it successful issuance of ₦42.79 billion Series 4 and 5 Commercial Paper notes under its ₦150 billion Commercial Paper Issuance Programme, comprised ₦12.93 billion 181-day Series 4 and ₦29.86 billion 265-day Series 5 notes.
The company in a notice at the the Nigerian Exchange signed by Mrs. Temitope Hassan, Company Secretary/Legal Adviser said, the Series 4 notes 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 shortterm working capital and funding requirements,” the notice said.
