The Digest:
Dangote Cement has opened a N100 billion Commercial Paper offer under its N500 billion program, offering investors yields up to 19% as the cement giant continues to demonstrate robust financial performance despite market challenges.
Key Points:
- The offer runs from November 17-19 with Series 1 (181-day) at 17.50% yield and Series 2 (265-day) at 19.00% yield.
- Minimum subscription is N50 million, with proceeds directed toward working capital requirements.
- The company reported N3.15 trillion revenue for 9M 2025, up 22% year-on-year.
- Profit after tax more than doubled to N743.3 billion while operating cash flow surged to N1.29 trillion.
- Borrowings reduced by 47% to N1.32 trillion, improving debt sustainability.
- Rating agencies affirmed strong ratings, though GCR downgraded due to the parent company effect.
- Production volume declined, indicating pricing rather than volume drove performance.
Sources: Nairametrics, Company Reports
