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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.

FMDQ lists BUA Cement s N115bn bond -- largest issued on debt market

Advertisement In a statement on Sunday, FMDQ said the bond was approved by the board listings and markets committee of the exchange. BUA Cement’s series 1 bond becomes the largest ever corporate bond issued in the Nigerian debt capital markets. FMDQ 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. Advertisement Speaking on the series 1 issue, Abdul Samad Rabiu, chairman of BUA Cement, said: “This bond issue – a first by BUA Cement, demonstrates our confidence in the Nigerian debt capital markets as well as continued investor confidence in BUA Cement’s business model, our management team, and long-term strategy, all supported by strong credit ratings.

BUA Cement issues N115 billion bond | Premium Times Nigeria

ADVERTISEMENT 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. 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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