FMDQ lists Dangote Industries’ N300 billion bond

• Flour Mills quotes N64.7b CP on platform

FMDQ Securities Exchange (FMDQ Exchange) has announced the listing of the Dangote Industries Funding Plc’s N187.58 billion Series 1 (Tranche A & B) and N112.42 billion Series 2 Senior Unsecured Bonds under the firm’s N300 billion Debt Issuance Programme on its platform.

The Series 1 and 2 bonds were listed on FMDQ Exchange in November 2022 and March 2023, respectively. To mark the achievement, FMDQ Exchange, in keeping with its tradition, held a listing ceremony at its offices recently.

Managing Director, FMDQ Exchange, Tumi Sekoni, represented by the Senior Vice President, Business Development Division, FMDQ Exchange, Jumoke Olaniyan. congratulated the issuer and sponsors on the feat, noting that their decision to raise funds from the debt markets through the Exchange’s platform was a testament to the highly efficient time-to-market and unrivalled listing and quotation service offered by the exchange.

She also commended the sponsors of the bonds for their concerted efforts towards ensuring the success of the issuances, while reiterating the exchange’s commitment to innovation and provision of efficient services to support issuers and investors to achieve an operationally excellent and globally competitive debt market.

Chief Executive Officer, Standard Chartered Capital and Advisory Nigeria Limited, Yemisi Deji-Bejide, on behalf of other sponsors to the Series 1 bonds, said: “Standard Chartered Capital and Advisory Nigeria Limited is proud to have led this historic transaction.

“The phenomenal success of this transaction reflects the strong credit quality of the issuer as well as the depth and resilience of the Nigerian domestic markets, despite the global market volatility,” she added.

Meanwhile, Flour Mills of Nigeria (FMN) Plc also quoted N64.97 billion Commercial Paper (CP) on the FMDQ platform to boost its working capital.
The securities exchange, while announcing the listing of FMN Plc’s N13.33 billion Series 1 and N51.64 billion Series 2 CP under its N200 billion CP Issuance Programme on its platform, stated that the proceeds will be deployed to support the firm’s short-term funding requirements.

Group Chief Financial Officer, Flour Mills of Nigeria Plc, Anders Kristiansson, said the joint quotation is aimed at harnessing alternative funding sources to meet its working and other capital requirements.

He added that the firm seeks to deepen strategic and growth-consolidating investments across value chains to enable it to unlock capabilities that would help deliver greater value for stakeholders.