Sonangol set to tap lenders for $1bn

Oil pump adobe stock
By Mariam Meskin
06 Jan 2020

Angolan national oil company Sonangol will soon launch syndication for a loan that could be as large as $1bn, according to bankers, though most expect the African pipeline in the early year to remain muted.

Société Générale and Standard Chartered are expected to be leads on the deal, according to bankers familiar with it.

It is not yet clear whether the deal will be a refinancing of an existing deal or a new loan. One banker aware of the situation said: "Some changes are ...

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