Row rect Shape Decorative svg added to bottom 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 Distributed Energy. Powering Africa’s low-carbon leap Absa supports CrossBoundary Energy’s $225 million capital raise, contributing up to $100 million to expand renewable infrastructure, enable the mining of critical transition metals such as copper, and extend energy access across underserved African markets. Read more DEALS Seeding success through inclusive partnerships Absa has partnered with HEINEKEN Beverages on a R1.2 billion initiative to support black-owned SMEs across South Africa. As the Fund Administrator, Debt Funder, and Strategic Enabler, Absa will manage two development funds - the Supplier Development Fund and the Enterprise Development Fund to empower at least 125 black-owned SMEs. Read more DEALS Partnering to continue harnessing wind power for a greener future Absa Corporate and Investment Banking (CIB) is proud to have acted as Joint Mandated Lead Arranger, Senior Lender and Hedge Provider for the R5 billion financing of Seriti Green’s 155MW wind project, which will supply clean, reliable power to NOA over the next 25 years. NOA is a leading renewable energy independent power producer and aspirant energy trader owned by the Old Mutual Group through the Africa Infrastructure Investment Managers (AIIM) and the IDEAS Fund. Read more
