Firm Supports Dangote Industries' Bond Issuance

RMBNigeria said it is proud to have worked with Dangote Industries Limited to facilitate a corporate bond issuance in the Nigerian capital markets, which was aimed at part-financing the completion of the Dangote Petroleum Refinery Project.

It said the N187.58 billion Series 1 issuance is a key infrastructure project for Nigeria and West Africa, which is currently scheduled to commence operations in the first half of 2023.

RMBNigeria said it acted as a joint issuing house on the milestone transaction and remained a trusted adviser to Dangote Industries.

RMBNigeria stated in a  statement that “Dangote Industries via its funding vehicle, Dangote Industries Funding Plc, sought to raise N150 billion via the Series 1 bond offer with the option to upsize under its N300 billion debt issuance programme.  The Series 1 bond offer comprised of Tranche A: 7-year and Tranche B: 10-year, Senior Unsecured Fixed Rate Bonds (“the Bond”).”

Chidi Iwuchukwu, the Co-Head of Banking Division, Rand Merchant Bank Nigeria Limited, said, “We are delighted to have worked on this landmark transaction and are grateful to the board and management of Dangote Industries Limited for appointing us as Joint Issuing House and Bookrunner

"The success of the transaction reflects the strong credit quality of Dangote Industries Limited and the growing resilience of the Nigerian debt capital markets. We remain a long-term partner and trusted adviser to Dangote Industries Limited and its subsidiary companies.”