Aliko Dangote’s company: Dangote Industries Limited has made plans to borrow N112 billion from investors to finish up its refinery project.
The company needs an additional $1.1 billion to be partially funded by the new bond this year, for the project to be completed.
The N112 billion loan money is the balance of the N300 billion bond raised by DIL in July 2021.
Proceeds from the bond will be used to part-finance the refinery project which is earmarked to commence operations in the first quarter of 2023.
Meanwhile, in a note written to investors on Tuesday, October 25, Afrinvest West Africa Limited, the joint issuing house, reported that the latest N112,415,455,000 bond with a 10 years tenor would be opened to the public within the next few days.
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