Stanbic IBTC Capital and Stanbic IBTC Bank, subsidiaries of Stanbic IBTC Holdings PLC, have partnered with Dangote Cement PLC (\u201cDangote Cement\u201d or the \u201cCompany\u201d), Africa\u2019s largest cement producer, to conclude yet another issuance of N50 billion Series 3 and 4 Notes, under the recently established Dangote Cement PLC\u2019s N150 billion CP Programme. Issuance of the Series 3 and 4 Notes closed on Friday 17 August 2018.\u00a0 Stanbic IBTC Capital is Sole Arranger of the CP Programme and acted as Joint Dealer for the Series 3 and 4 Notes, whilst Stanbic IBTC Bank is the\u00a0Issuing, Calculation and Paying Agent for all Notes issued under Programme. The Series 3 and 4 Notes will be listed on Nigeria\u2019s FMDQ OTC Securities Exchange.\u00a0 Reflective of Dangote Cement\u2019s top-notch ratings (Aaa\/AA+ by Moody\u2019s\/GCR), the Series 3 (180-day) and 4 (270-day) notes priced at thin spreads of 25 and 50 basis points over the chosen primary market Sovereign benchmark (OMO rate), to achieve discount rates of 12.40% and 12.65% respectively. The N50 billion offering was 158% subscribed, with a robust and high-quality order book closing at N79 billion. The order book featured bids from a diversified pool of funds managed by Pension Fund Administrators, Asset Managers, Insurance Companies, Trustees, Registrars, Corporate Treasuries and Private Bank HNI clients. Thus, the level of oversubscription generated from a high quality and diverse order book also validates DCP\u2019s rich non-bank investor base, achieved through the Company\u2019s strategic efforts to broaden and diversify its funding sources.\u00a0 Funds raised in the CP Programme are to be used the Company\u2019s working capital and general corporate purposes.\u00a0 Speaking in relation to the highly successful offering,\u00a0Kobby Bentsi-Enchill, the Executive Director and Head, Debt Capital Markets, Stanbic IBTC Capital, expressed delight that Dangote Cement was able to achieve yet another landmark CP issuance, within 6 weeks of its inaugural offering. According to Mr Bentsi-Enchill, Stanbic IBTC Capital is committed, in line with the Stanbic IBTC Group\u2019s value proposition and investment banking pedigree, to assist our clients with high-quality advisory and arranging services that enhance their growth and expansion prospects by providing access to a diverse range of financing options within the domestic capital markets. \u201cStanbic IBTC Capital will continue to exploit opportunities that support our clients with access to critical funding, short and long-term, for their needs. This, we expect, will help stimulate growth via the mobilisation of debt and equity capital market instruments,\u201d Bentsi-Enchill said. \u201cWe will continue to leverage our excellent investment banking pedigree as well as the strength of our franchise in the Standard Bank Group, the largest financial institution in Africa, to consummate such big-ticket deals that will not only help businesses grow but also help deepen our capital markets\u201d Bentsi-Enchill added.\u00a0 The\u00a0Group Chief Executive Officer, Dangote Cement PLC, Engineer Joseph Oyeyani Makoju, expressed the Company\u2019s satisfaction with the choice of Stanbic IBTC as a preferred partner, considering the financial institution\u2019s strong pedigree and expertise in investment banking. On the issuance, Makoju stated: \u201cThis landmark transaction, even more, impressive than our first outing, remains still the largest-ever Commercial Paper issuance by a corporate issuer in Nigeria. In addition to helping us achieve our strategic objective of broadening our sources of funding, we have also made remarkable strides towards lowering our overall cost of borrowing.\u201d Makoju added: \u201cThe success of this Programme reflects the high quality of our business and its strong cash generation capacity, made possible by our market-leading positions in Nigeria and across Sub-Saharan Africa, where demand for cement is growing rapidly.\u201d\u00a0 The establishment of the Dangote Cement PLC Commercial Paper Programme is another testament to Stanbic IBTC Capital\u2019s industry leadership in investment banking, issuing house and financial advisory services. Stanbic IBTC has played a pivotal role in the resurgence of commercial paper in Nigeria following the release of guidelines on the issuance of the corporate debt financing solution by the Central Bank of Nigeria. Dangote Cement was advised by Stanbic IBTC Capital Limited as Sole Arranger for the CP Programme, and Joint Dealer in respect of the Series 3 and 4 Notes, whereas Stanbic IBTC Bank PLC acts as the Issuing Calculation and Paying Agent for all Notes issued under the Programme.