{"id":2049,"date":"2013-04-12T19:41:51","date_gmt":"2013-04-12T19:41:51","guid":{"rendered":"http:\/\/disnaija.com\/nigeria-news\/dangote-group-seeks-3-5-bln-syndicated-loan\/"},"modified":"2013-04-12T19:41:51","modified_gmt":"2013-04-12T19:41:51","slug":"dangote-group-seeks-3-5-bln-syndicated-loan","status":"publish","type":"post","link":"https:\/\/disnaija.com\/dangote-group-seeks-3-5-bln-syndicated-loan\/","title":{"rendered":"Dangote Group seeks $3.5 bln syndicated loan"},"content":{"rendered":"
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Dangote Group, Nigeria’s biggest listed company, has begun talks to raise a debut syndicated loan for $ 3.5 billion to fund fertiliser and oil refinery projects, two sources with knowledge of the situation said.<\/p>\n

The seven-year loan for Nigeria’s biggest cement producer is split equally between Nigerian and international lenders via lead banks Guaranty Trust Bank, Standard Bank and Standard Chartered, Reuters reported quoting sources.<\/p>\n

\"Aliko <\/p>\n

Aliko Dangote: plans loans for fertilizer and petro-chemical plants<\/p>\n<\/p><\/div>\n

No one at Dangote was immediately available to comment.<\/p>\n

International lenders are weighing up the risk associated with a relatively long-term jumbo loan for a debut Nigerian borrower.<\/p>\n

Dangote’s position as a leading company in one of Africa’s more economically stable countries is expected to appeal to deal-hungry emerging market lenders who faced a shortage of such sizeable loans in 2012.<\/p>\n

“If any international banks want to make a new play for Africa then this is the deal to join,” one of the sources said.<\/p>\n

Dangote forecasts a 38 percent rise in net profit to 81.5 billion naira for the first quarter compared with a year earlier, it said in a filing with the Nigerian Stock Exchange in late December.<\/p>\n

The company’s full-year results are expected shortly.<\/p>\n

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