AFC Leads Dangote Refinery's $2.5bn Private Placement

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AFC Leads Dangote Refinery's $2.5bn Private Placement

LAGOS — Africa Finance Corporation led investors in the Dangote Petroleum Refinery's $2.5 billion private placement, which was 3.7 times oversubscribed, the corporation said. AFC also said Dangote Industries has fully repaid a $300 million loan it provided. The refinery plans to expand capacity to 1.4 million barrels per day.

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