Nigerian borrowers to hit the market

Nigerian borrowers to hit the market

Both the Nigerian Liquefied Natural Gas (NLNG) and the Nigerian National Petroleum Corporation (NNPC) are looking to international lenders to raise billions of dollars in syndicated loans.

NLNG is looking to raise US$1bn via the international syndicated loan market, with the planned facility intended to finance the purchase of new LNG tankers, according to information published on the company’s website.

As yet no mandates have been announced and banks remain tight-lipped as to when the mandates will be awarded.

NNPC is also looking to close a loan of at least US$1.5bn to finance the development of offshore oil fields by Exxon Mobil.