Dangote Shops For Additional ₦300 Billion To Finance Refinery

Dangote Industries Limited (DIL) at the weekend opened an application list to raise up to N300 billion in medium-term debt funding from the Nigerian capital market.

The money is to finance the Dangote Petroleum Refinery being built in Lagos and due for completion in the first quarter of next year.

The firm, through a special purpose vehicle fund. Dangote Industries is offering two tranches of bonds to raise up to N150 billion, with a provision to scale up to the full size of its N300 billion registered bond issuance programme.

The book building- a register for prospective investors- for the N300 billion bond issuance is scheduled to close Thursday.

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