On June 30, Dangote Industries Limited (DIL) issued a series 1 bond under its debt issuance program amounting to 300 billion naira (i.e. 687 million euros).
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The operation, which has just been endorsed by the stock market regulator, is managed by thea Standard Chartered Bank as issuing company and Stanbic IBTC, Meristem and Vevita as joint issuers, and includes two slices of sevens and ten ans. The price of each tranche was set at the “upper range” of the initial price indication, i.e. 12.25% to 12.75%, and 13% to 13.50% respectively, according to Abiodun Keripe, managing director of ‘Afrinvest, Research and Consulting.
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The issue was oversubscribed, with 10 billion naira (23 million euros) requested for the tranche at of them