Dufil Prima, makers of Indomie Noddles has announced the opening of its series 1,2 and 3 commercial paper program under its renewed N30billion program.
The CP offers 4.5percent, 5.7percent & 7.4percent yields on 91-Day, 179-day & 270-day tenors. The offer is closing on 6th March
A Commercial Paper (CP) is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts payable, inventories and meeting short-term liabilities
The noodles-maker is no stranger to the debt capital markets, having issued an aggregate amount of N21 Billion in CPs between 2016 and 2017 and a bond issue due to mature in 2022.
The company joins a growing list of fast-moving consumer goods companies such as Nigerian Breweries, Flour Mills of Nigeria, taking advantage of the low-interest rate to raise cheaper short term debt.
OLUFIKAYO OWOEYE
