The Group Chief Executive Officer, Dangote Industries Limited, Olakunle Alake has expressed delight about the completion of the listing of the firm’s N300 billion series 1 and 2 bonds on Nigerian Exchange Limited (NGX), commending the depth of the capital market.
Dangote Industries explained that the proceeds of the bond would be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements.
At the ‘Closing Gong’ ceremony to commemorate the listing of the bond held at the Exchange on Wednesday, Alake, who was represented by the Group Chief Finance Officer, Mallam Mustapha Ibrahim, said: “We are pleased to have showcased the depth and liquidity of the domestic capital market, while we reflect the strong quality of the issuer, despite the current global market realities.”
According to him, the depth of the market reflected in the successful issuance of the bond, which was the largest aggregate local currency bond issued in…
Source: Guardian Newspaper
