NGX lists Dangote Cement's N119.87bn Commercial Paper
The Nigerian Exchange (NGX) has admitted Dangote Cement Plc's N119.87 billion Commercial Paper (CP) listing, marking its first-ever CP instrument on the platform. The transaction includes Series 1 (N19.95bn, 181-day tenor, 17.50% yield) and Series 2 (N99.92bn, 265-day tenor, 19.00% yield), expanding NGX's product suite into exchange-listed short-term corporate debt. This structural shift introduces a new funding channel for issuers and investors, enhancing market liquidity and price transparency. The listing aligns with SEC's 2026 market deepening agenda, providing pension funds and treasury investors with additional tradable short-term instruments. For Dangote Cement, it offers cost-effective funding compared to commercial banks, potentially becoming a game-changer for manufacturers needing long-term credit.