DEALS | 29 MARCH 2019

Funding that makes
a shared future possible


Funding partner to Heirs Holdings and Transcorp, for their USD 1.1 billion acquisition of OML 17.

We are proud to have showcased our continued support for the Natural Resources and Energy sector in Africa, in particular the Nigerian upstream sector, where Absa has an enviable track record in funding world class operators.

This transaction, which is the largest oil and gas M&A deal in Africa in recent times, will enhance economic development in Nigeria and strengthen Heirs Holdings and Transcorp's impact on local communities.

Some of the transactions we concluded in the oil and gas sector include:

  • Funding NLNG Train 7 in Nigeria
  • JV funding for SPDC, Eni, Total, NNPC and Chevron for various onshore and offshore assets in Nigeria
  • Support for Prime Oil & Gas via a RBL facility for its Nigerian offshore assets
  • Absa has also been active in funding the landmark Mozambique LNG transaction

“This landmark transaction showcases our continued support for the Natural Resources and Energy sector in Africa. It will enable further infrastructure development within the Niger Delta and create local employment” – Johan Koorts, Senior Banker, Absa CIB.

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