GTB 737 banner Yudala banner

Dufil plans debt issue to raise additional $131 million

By News Express on 24/07/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 392

•Dufil Prima Food COO Madhukar Khetan.
•Dufil Prima Food COO Madhukar Khetan.

Nigerian pasta maker Dufil Prima Food plans to raise 40 billion naira ($131 million) from the local debt market to broaden its funding base, it said on Monday.

The privately held company, set up over two decades ago, has grown to become the largest pasta maker in West Africa, it said. It competes with listed rival such as Dangote Flourmill, Flour Mills of Nigeria and Honeywell Flour Mills.

Dufil also makes cooking oil.

Several Nigerian companies have said they want to tap debt markets this year but local inflation still above 16 percent have kept bond yields high, leaving many firms undecided on timing of issue.

Dufil Chief Operating Officer Madhukar Khetan said in a statement that the issue has been approved by the Securities and Exchange Commission but that the timing of sale was subject to market conditions.

Nigeria is in its second-year of recession brought on by lower oil prices, which has also affected markets and businesses.

Dufil has appointed Stanbic IBTC Capital, the local unit of South Africa’s Standard Bank to arrange the debt. (Reuters)

Source News Express

Posted 24/07/2017 9:37:36 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
APC dares Wike, PDP over Amaechi’s planned arrest...

Braithwaite’s demise, loss of a fighter for democratic...

Saraki administers oath of office on new Taraba...

Why Gov. Obi will never respond to Victor...

Resident doctors in Kogi join national protest

El-Rufai passes vote of no confidence on NNPC...

Fireworks at Anambra guber debate: Obiano debunks Ngige’s...

Breaking News: Ethiopian Airlines plane hijacked

Avengers invite Buhari to visit Niger Delta

Nigeria requires more foreign direct investments — Udoma...

Who emerges Abia House of Assembly new Speaker?...

Okigwe Senatorial Rerun: One ‘inconclusive election’ too many...

 

Latest News Minister identifies the biggest obstacles to 2019 elections Vigilante kills self while testing gun charm on his body Germany extends invitation to Nigerian start-ups Man bursts into newsroom, stabs top radio presenter in the neck Ezekwesili bags global democracy appointment Judge’s absence stalls FG’s $406.8m suit against Shell National Assembly summons Aviation Minister over airport concessioning How Delta expended N33.4bn Paris Club refund — Commissioner Lagos Assembly passes College of Nursing Bill N113m Scam: EFCC testifies against DESOPADEC’s Consultants Gambiademands immediate resignation of Togo’s President 5 Reasons No Nation Wants to Go to War with Israel

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (288,196 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (271,287 views) Shameless Genevieve Nnaji exposes breasts in public (218,732 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (184,232 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (179,710 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (162,555 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (140,959 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (128,842 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (123,913 views) Lagos plane crash: Journalist releases victims’ names (114,365 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (112,311 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (104,666 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (30) Business (2,734) Business Verdict (25) Columnists (758) Complaints & Requests (93) Enterprise & Opportunities (184) Entertainment (396) Features (497) Global Business Monitor (187) International (1,592) Interviews (134) Live Commentary (28) Love Matters (79) News (29,562) Opinion (828) Pidgin (8) Politics (3,996) Religion (645) Sports (1,340) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

#MonkeyPox outbreak

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!