According to bond details seen on the Bloomberg Terminal, the notes were issued at par (100) with a 7.5 percent yield and will mature on 16 July 2031. The senior unsecured bond was structured as a Rule 144A private placement for institutional investors in the United States and other eligible markets.
The bond also includes a make-whole call option until July 2028, allowing the refinery to redeem the notes early under specified conditions before standard call provisions apply.
The offering was jointly arranged by J.P. Morgan, Bank of America Merrill Lynch and Standard Chartered Bank, highlighting strong backing from leading international investment banks. Related News Court approves Ozekhome's six-week UK medical trip, orders passport returned by Aug. 26 2026 World Cup: Five African teams crash out as continental hopes fade The biggest winners of Africa's $1.5bn startup funding boom in H1 2026
The successful fundraising provides Dangote Refinery with fresh access to long-term dollar financing at a time when the company is ramping up refining operations, expanding exports of refined petroleum products and strengthening its position in regional fuel markets.
Although the company has yet to disclose the intended use of the proceeds, such international bond issuances are typically deployed to refinance existing debt, fund capital expenditure, strengthen working capital or support expansion projects.
