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Dangote Sugar opens series 2&3 N50bn commercial paper issuance

Dangote Sugar Refinery PLC’s (DSR) has debuted Series 2 and 3 Commercial Paper offer of up to N50 billion under its N150bn Commercial Paper Issuance…

Dangote Sugar Refinery PLC’s (DSR) has debuted Series 2 and 3 Commercial Paper offer of up to N50 billion under its N150bn Commercial Paper Issuance Programme.

The Offer is now open and scheduled to close Friday, 05 April 2024.

DSR is a subsidiary of the Dangote Group and is engaged in the refining, distributing, and marketing of granulated sugar to wholesalers and top players in the skin care, food and beverage, and pharmaceutical industries.

The Company is Sub-Saharan Africa’s largest sugar refinery, with a combined installed refining capacity of 1.44 million metric tonnes per annum and a market share of about 55% in the retail space.

DSR is on track to becoming a leading global integrated sugar producer with its backward integration plan – target 0.7MMT refined sugar production, expansion of outgrowers scheme and strategically seeking to expand existing warehouses and fleet of over 800 haulage trucks to cover target markets in Nigeria and West Africa.

The Company has 47,364 hectares of sugar plantation and aims to produce 1.5 million metric tonnes of refined sugar annually from its sugarcane in the medium term.