Dangote Petroleum Refinery & Petrochemicals is seeking to raise as much as $1 billion through a private debt placement aimed at international investors, according to people familiar with the matter. The fundraising effort follows a $750 million private debt sale by Dangote Fertiliser in April—the group’s first international capital markets transaction. The refinery, currently capable of processing 700,000 barrels per day, plans to double its output capacity, with billionaire founder Aliko Dangote committing to invest at least $40 billion across his business empire over the next five years. A parallel private share placement has reportedly attracted about $2 billion in investor interest.
Financial Post
