BUA’s N100bn bond opens for bid

BUA Cement Plc, Nigeria’s second-largest cement manufacturing company quoted on the Nigerian Stock Exchange (NSE) announced it has commenced a book-building process to raise N1oo billion in the debt market.

It informed investors via a filling at the NSE on Wednesday of its Series 1, N100 billion 7-year Fixed Rate Senior Unsecured Bonds under its N200 billion bond programme.

The manufacturer said the announcement followed a successful approval by the Securities and Exchange Commission (SEC).

BUA stated in the statement signed by Ahmed Aliyu, Company Secretary, BUA Cement Plc.

The cement manufacturer added that its offer is “open to all Qualified Institutional Investors and High Networth Investors as defined by the Securities and Exchange Commission’s rules and regulations, and is scheduled to run from Tuesday 15 December until Monday 21 December, 2020.”