FMO and Africa Merchant Bank arrange USD 479 loan for one of the world's biggest cement factories
16-08-2005
A consortium of major international and Nigerian financial institutions and Obajana Cement Plc (a subsidiary of Dangote Industries Limited in Nigeria) have signed an up to USD 479 million loan facility that will provide long-term debt finance for the construction, completion, testing, commissioning, insuring, operation, maintenance and management of a 4.4 million ton per year cement plant and a power plant with a capacity of 135 MW in Obajana, Nigeria.
The consortium includes European Investment Bank (EIB), International Finance Corporation (IFC), Africa Merchant Bank/Banque Belgolaise with Fortis Bank as EIB guarantor, Netherlands Development Finance Company (FMO), Swedfund International AB, Finnish Fund for Industrial Cooperation LTD, DEG- Deutsche Investitions- und Entwicklungsgesellschaft MBH, Industrial Development Corporation (IDC) from South Africa, Emerging Africa Infrastructure Fund Limited, Eksport Kredit Fonden as EIB guarantor, First Bank of Nigeria Plc, United Bank for Africa Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc, Zenith Bank Plc, Oceanic Bank International Plc, Diamond Bank Plc, Equatorial Trust Bank Ltd, Access Bank Plc, Afribank Nigeria Plc, Prudent Bank Plc, Fidelity Bank Ltd and Intercontinental Bank Plc.
