The much-celebrated Dangote Industries Ltd. (DIL)’s recent Dual-Tranche Senior Unsecured Bond series has been selected by the Bonds, Loans & ESG Capital Markets Africa Awards 2023 in South Africa in the category of Local Currency Corporate Bond Deal of the Year.
The Pan-African Conglomerate was awarded “The Most Innovative & Ground-breaking Deals from Africa for The Year.”
Daily Trust had reported that DIL recently listed its N300bn Series 1 and 2 bonds issued under the Dangote Industries Funding Plc during a grand listing ceremony at both the FMDQ and the Nigeria Exchange Limited (NGX) in Lagos.
Group Managing Director of Dangote Industries Limited, Olakunle Alake, told investors during the listing ceremony that the bonds were primarily for part-financing the Group’s 650,000 bpd refinery project.
He explained that the decision of the company to issue bonds to raise the required capital for part-financing the refinery project was to encourage the participation of Nigerians in the financing of the project. He noted that the bonds remain the largest aggregate local currency bond issuance within a calendar year by any corporate organisation in the history of the capital markets.
The Bonds, Loans & ESG Capital Markets Africa is the annual meeting place for senior decision-makers from Africa’s capital markets community.
Other winners from Nigeria included Bank of Industry, Access Bank, Nigerian National Petroleum Company Limited which won the agency bond deal of the year; Bank/FI Bond Deal of the Year and Project Sponsor of the Year respectively. The Republic of South Africa won the Sovereign Bond Deal of the Year.