Nigeria's loan train shows no sign of losing steam
Nigeria's booming syndicated loan market shows no sign of slowing down with oil exploration and production company Oando Energy Resources and a trio of financial institutions moving forward with their borrowing plans.
Oando Energy received commitment letters from banks for up to $815m of acquisition loans.
The loan is split between two tranches. The largest is a reserve-based lending facility of up to $465m arranged by BNP Paribas, Standard Bank and Standard Chartered.
The second facility is a $350m senior secured
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