Lafarge Africa has announced its redemption of N33.6bn bond due on June 15, 2021.

The company revealed this on Thursday in a statement, adding that it registered a N100bn bond issuance programme in June 2016, out of which the sum of N60bn was issued in Series 1 and 2 of the programme.

Lafarge said the matured Series 1 bond issued on June 10, 2016 with a three-year tenor and at a fixed coupon of 14.25 per cent had been repaid, Punch Reports.

It said, “The aCompany, leveraging on its performance and its recently concluded management strategic, plans to systematically deleverage the company, and has redeemed the Series 2 Bond from internally generated cashflow.

“In view of this, the company has no outstanding issued bond under the N100bn bond issuance programme.”

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