Dangote Industries Limited has resolved to borrow N112 billion from investors to complete its refinery project.

The company requires an additional $1.1 billion to be partly funded by the new bond this year to complete the project.

The N112 billion is the balance of the N300 billion bond raised by DIL in July last year.

Proceeds from the bond will be used to part-finance the refinery project which is scheduled to begin operations in the first half of 2023.

In a note to investors seen by Ripples Nigeria on Tuesday, Afrinvest West Africa Limited, the joint issuing house, said the latest N112,415,455,000 bond with a 10 years tenor would be open to the public in the next few days.

The Managing Director of Afrininvest Research and Consulting Limited, Abiodun Keripe, said the deal comprised two tranches of seven and 10 years tenors.

“Each tranche priced at the ‘higher range of the initial price guidance, of 12.25 percent to 12.75 percent and 13.00 percent to 13.50 percent for each tranche respectively,” he added.

The bond was oversubscribed with N10 billion demand for the seven-year tranche and N176 billion for the 10-year offering.

Although the Dangote refinery is yet to commence operations, the $2.5 billion petrochemical plant has been operational since March 22.


https://www.ripplesnigeria.com/dangote-to-borrow-n112bn-for-completion-of-refinery-project/

if Dangote can borrow money then who's me that I cannot not beg

Dangote should meet Tinubu to borrow him from his ill gotten N117 billion assets in tax Haven banks

This refinery project must work in Jesus name.

Indirectly telling us some corrupt politicians will putting some of their loots in there.

I just dey pity this man. As much as he's trying to make things work, he's being faced with a lot of challenges. It's not easy doing business in Nigeria. It takes the grace of God to breakthrough. Our major saboteurs are the fed govt.

YourHerbalOrgan:
if Dangote can borrow money then who's me that I cannot not beg

Make we organize tidy sokoloan ASAP

Why will an African richest man go borrowing?Are Forbes sure Dangote is Africa richest?

Governor Obaseki is a founding partner or founder of one of the joint issuing houses (Afrinvest) before he took over the reins of Governing Edo State. Impressive.

Revolution2022:
Why will an African richest man go borrowing?Are Forbes sure Dangote is Africa richest?

Every serious business man needs financing to run his business. It helps you leave a lot of options open. If you depend solely on your funds, you will limiting your abilities..
That said, I think the cost of this refinery is highly inflated. Don't know what they're building there.

Nigerians should also understand the geopolitical realities associated with this kind of mega economically important project. Once Nigeria stops importations of Oil, several companies and countries will suffer significant losses in this regard. So as an investor, it is not totally wise to go to these same countries and ask them to design and build your refineries for you, when the success of your project, means trouble for them.

I pray it's for the greater good cos #117billion won't go down d drain,,cos he will likely be sabotage

This refinery has taken too long

owobokiri:


Every serious business man needs financing to run his business. It helps you leave a lot of options open. If you depend solely on your funds, you will limiting your abilities..
That said, I think the cost of this refinery is highly inflated. Don't know what they're building there.

Nigerians should also understand the geopolitical realities associated with this kind of mega economically important project. Once Nigeria stops importations of Oil, several companies and countries will suffer significant losses in this regard. So as an investor, it is not totally wise to go to these same countries and ask them to design and build your refineries for you, when the success of your project, means trouble for them.

Dangot's net worth is 12b dollars as at 2022.Dollars not naira O.How much is his refinery?

Revolution2022:
Dangot's net worth is 12b dollars as at 2022.Dollars not naira O.How much is his refinery?

The cost for that refinery is chasing 20 billion USD or so..
I don't know what they are doing there..

Imagine

Bontafa:


Make we organize tidy sokoloan ASAP

lols....nawa oo