FMDQ admits BUA Cement N115bn bond, largest on debt capital market |

By Chinyere Joel-Nwokeoma
Lagos, May 24, 2021 FMDQ Securities Exchange Ltd has announced the admission for listing the BUA Cement Plc N115 billion series 1 fixed rate senior unsecured bond under its N200 billion bond issuance programme.
The issuance, the first by BUA Cement, becomes the largest corporate bond issued in the Nigerian Debt Capital Market (DCM).
The FMDQ said in a statement on Sunday in Lagos that the bond was approved by the board Listings and Markets Committee of the Exchange.
It said the proceeds from the issuance would be used to refinance existing debt obligations of the issuer, finance the issuer’s working capital as well as fund its debt service reserve account.

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