The Nigerian corporate debt market is set to witness yet another offering from Dangote Sugar Refinery Plc, as the company moves to raise N50 billion through its 180-Day Series 8 Commercial Paper (CP).
Opening on February 18, 2025, and closing on February 20, 2025, the CP is issued at a 22.6515% discount rate, translating to an effective yield of 25.5%.
Given the company’s recent financial struggles, this move raises questions about its long-term financial sustainability and strategic direction.