For its October 2024 corporate bond, Dufil Prima Foods Limited, home to Nigeria’s most loved noodle brand, Indomie Instant Noodles, has extended the subscription window, giving investors another chance to invest in its debt securities.
A commercial paper with an indicated yield of 27.00% and a maturity date of April 16, 2025, is included in the offer. It is priced at a discount rate of 23.8306% to its face value. The statement states that the subscription period would run for five days, from October 10, 2024, to October 17, 2024.
Applying for a share of the bond offer, which aims to finance the company’s short-term capital needs and support general business goals, is open to interested investors throughout this period.
The program size of this debt sale is N50 billion, and there is N29.05 billion of headroom that can be used if more bonds are needed by Dufil. Additionally, investors can subscribe for as little as N5 million, with N1,000 increments accepted for additional investments. The bond has a 180-day tenor, and it can be subscribed for until October 17, 2024.
The funds raised from the bond sale will be used by Dufil Prima Foods to fund several longer-term business goals in addition to its short-term capital requirements, BrandSpur news brand reports.
To guarantee a seamless and expert transaction, Stanbic IBTC Capital Limited and Rand Merchant Bank Limited are acting as arrangers for this calculated financial move. Both Global Credit Rating (GCR) and Datapro, two agencies well-known for their in-depth knowledge of financial and economic analysis, have given the bond an A-credit rating.
It is significant to remember that, unless certain exemptions are granted, the bond will be liable to appropriate taxes, as specified in the official notice. Compose Message
