Nigeria’s NNPC secures $1.5bn financing package

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By Mariam Meskin
06 Aug 2020

The Nigerian National Petroleum Company has raised a financing package, backed by multilateral lenders, commercial banks and oil trading companies.

The $1.5bn facility includes two tranches: a five year dollar-denominated tranche and a seven year naira-denominated $500m equivalent tranche.

Africa Export-Import Bank, Standard Chartered, the United Bank for Africa and Union Bank participated in the financing alongside two oil trading corporations, Nigeria’s Matrix and Vitol.

A small number ...

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