Lenders gather for Africa’s biggest project financing

AdobeStock_Mozambique_575x375_20July2020
By Mariam Meskin
20 Jul 2020

Mozambique LNG, Africa’s largest project financing investment to date, has secured roughly $15bn of funding from a range of international lenders and credit agencies in one of the few sparks of emerging market loan activity this year. The deal shows there is still appetite for “overlooked” and lower-rated emerging market credits, bankers say.

The borrower has secured $14.9bn senior debt financing agreement for the project. This consists of multiple loans provided by eight export credit agencies, 19 commercial lenders and a development bank. Société Générale is one of the lead banks on the commercial tranche, according to bankers.

The project ...

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