Afreximbank provides $650m funding for Oando’s acquisition of Nigerian Agip Oil Company

Afreximbank provides $650m funding for Oando’s acquisition of Nigerian Agip Oil Company …C0NTINUE READING HERE >>>

The African Export-Import Bank has said that it provided $650m funding for Oando’s acquisition of the 100 percent stake in the Nigerian Agip Oil Company Limited.

The Continental Bank disclosed this in a statement on Friday.

The bank noted that it successfully arranged a senior $500 million and a junior $150 million reserve-based lending facility for Oando Petroleum and Natural Gas Company Limited, which made the NAOC possible.

The facility was used to finance Oando’s acquisition of the…

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