DEALS Scaling new heights in Nigeria’s capital markets Absa | Corporate and Investment Banking > Insights and Events > Scaling new heights in Nigeria’s capital markets SHARE We are proud to have successfully completed the Dangote Industries Limited Series 1 bond offering, the largest corporate bond issuance in the history of the Nigerian capital markets. Absa Capital Markets Nigeria Limited successfully completed the Dangote Industries Limited Series 1 bond offering, allocating NGN 187 billion across a 7- and 10-year fixed-rate deal. The recently closed transaction marks the largest corporate bond issuance in the history of the Nigerian capital markets. Dangote Industries is one of the leading, diversified and fully integrated conglomerates with operations in Nigeria and Africa with 11 distinct business lines across a wide range of industries, including cement, sugar, salt, condiments, packaging, energy, fertiliser and petrochemicals. The use of proceeds will be applied towards part-financing the Dangote Petroleum Refinery project, which when commissioned, will be the sixth largest refinery in the world, in terms of total capacity, and the largest single train petroleum refinery in the world. As a Joint Issuing House / Bookrunner, we are proud to have played a role on this landmark transaction that directly contributes to the economic welfare of the Nigerian economy and demonstrates our expert knowledge in providing tailored debt and capital raising solutions for our corporate clients across the African continent. The transaction's success also reflects investors’ confidence in Dangote Industries Limited and Absa, as we continue to prove our capabilities and expertise to drive financial resilience and opportunities for longer term business growth. Read more on our Nigeria Business Contact us Absa Awards Our prestigious awards are a testimony to our Corporate and Investment Banking capabilities that are anchored on supporting the growth of key sectors of our economy, building strong partnerships with our clients as well as connecting clients to larger markets through our regional and global footprint View more awards https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more DEALS Driving purposeful partnerships to advance retail growth in Africa At Absa CIB, we’re committed to building partnerships that create lasting value for both businesses and communities. Our collaboration with Garden City Mall in Nairobi, Kenya, highlights this commitment as we help drive sustainable growth and economic opportunity in one of East Africa’s largest retail developments through a USD 37,3 million commercial property financing transaction. Read more DEALS Driving a greener energy value chain We are pleased to share that Absa has successfully acted as Co-Mandated Lead Arranger, Facility Agent and Hedge Provider alongside Nedbank for Pele Green Energy’s Sonvanger 100MW solar PV power project. This R2.2 billion project is a landmark transaction for Pele Green Energy, positioning them as a leading developer in South Africa’s renewable energy sector. Read more
