In continuation of its ₦300bn Commercial Paper Issuance Programme, Dangote Sugar Refinery Plc, on Monday announced the Series 10 – 11 Commercial Paper offer of up to ₦100 billion.

With minimum subscriptions of ₦5 million andd ₦1,000.00 thereafter, proceeds of the CP will be deployed to support Dangote Sugar’s short-term working capital and funding requirements.

The issuance, scheduled to close on Wednesday, 25 June 2025, after opening on Monday, June 23, with a tenor of 90and 174-day tenor and a discount rate of 19.97 percent and 20.73 percent per annum respectively.

Implied Yield per annum is 21 percent and 23 percent, while settlement date is on Thursday, June 26, 2025.

Maturity date is Wednesday, September 24, 2025 for the 91-day and Wednesday, December 17, 2025

Dangote Sugar Refinery, which enjoys an issuer rating of A+ by Agusto & Co, and A- by DataPro, Dangote Sugar is a subsidiary of Dangote Industries Limited and 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.

DSR, Africa’s largest sugar refinery, with a combined installed refining capacity of 1.49 million metric tons per annum, is in the medium term, targeting additional 1.5MMT of refined sugar from locally grown sugarcane.

A statement by the company says it is on track to become a leading global integrated sugar producer with its backward integration plan.