₦airaland Forum

Ok & apologies.

If you go to the local banks with a project to build a block of apartments costing N275m

1.) What is the minimum % they demand you put into the project as well (I'm not talking collateral because this is being approached as project finance and the liabilities are limited to the project)
2.) What is the typical interest rate and length of payback you can expect?

Finally, is there a place where I can see recent similar transactions successfully concluded?

Thanks in advance.

Hey peeps,  I'm building up my proforma for a viable Real Estate transaction wholly to be financed within Nigeria.

Total cost is about  N275m of which I can contribute N75m.  As a start, will this 27% equity level fly with local banks? Or, what are the more realistic indicative leveraging requirements (Debt/Equity), loan interest rates & tenor available in the market today? 

Better still, can anyone point me to a publication/websites that gazette recent project finance deals in the country?

TIA