Dangote Cement, MTN to boost funds in capital marketplace for operations

Two of the three largest firms in Nigeria’s capital market, MTN Nigeria and Dangote Cement,

Two of the three largest firms in Nigeria’s capital market, MTN Nigeria and Dangote Cement, are heading to the inventory market to boost funds for his or her operations.

In separate statements to the investing public, MTN Nigeria plans to boost N150 billion via business papers whereas Dangote Cement will challenge bonds.

In its submitting dated April 7, 2022 and addressed to the Nigerian Alternate Group (NGX), Dangote Cement knowledgeable shareholders that it was considering second issuance of bonds underneath its N300 billion debt issuance to boost an undisclosed fund.

The assertion learn: “The bonds shall be issued imminently, topic to beneficial market situations. The Firm’s administration has disclosed that the proceeds of the bonds shall be utilized in the direction of funding growth initiatives, refinance current short-term debt and for common company functions.”

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MTN Nigeria on its half proposed the Issuance of Sequence 1&2 Industrial Paper to assist diversify its liquidity sources.

The y’ello community mentioned the funds could be used to finance working capital and different operations.

The corporate had beforehand concluded 4 collection of issuances underneath its earlier N200 billion Industrial Paper shelf program.

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