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 Investing in Africa’s Digital Transformation Journey We are pleased to have acted as sole Mandated Lead Arranger, Bookrunner, Facility Agent and Coordinator for ZAR 8bn of expansion capital facilities for Teraco. Read more DEALS Powering Africa’s digital future through connectivity We are pleased to have served as sole transaction coordinator in the successful financing of Vodacom's R11 billion preference share facility used to refinance the acquisition of a controlling stake in Vodafone Egypt. This strategic transaction signals a significant milestone, not only for Vodacom but also for the broader telecommunications and financial services landscape in Africa. The transaction represents the largest syndicated preference share facility closed to date in the South African market. Read more DEALS Unlocking Africa’s Trade Potential We are proud to announce our partnership with British International Investment, a collaborative effort aimed at addressing Africa's significant trade finance gap. Read more
