Afreximbank Unveils $17.5B Lifeline for Angola’s Sonangol

Afreximbank Unveils $17.5B Lifeline for Angola’s Sonangol

Africa’s trade finance lender has unveiled a major new funding line for Angola’s national oil company, as the country seeks to stabilize crude trading and maintain output in a basin facing structural decline and renewed scrutiny from international producers. The African Export-Import Bank has announced a $17.5 billion financing facility for Sonangol, according to a statement cited by Reuters on Wednesday. Afreximbank said the facility is designe…

Afreximbank boosts Angola’s energy sector with a US$1.75 billion facility for Sonangol

African Export-Import Bank (Afreximbank), working with other mandated lead arrangers, has successfully closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola’s national oil company. The strategic financing will support Sonangol’s projected operating and capital expenditure requirements, while advancing Afreximbank’s mandate to promote African-led financing models that support growth, industrialisation, economic se…

Afreximbank bolsters Angola’s Energy Sector with a $1.75-billion facility for Sonangol

Afreximbank bolsters Angola’s Energy Sector with a $1.75-billion facility for Sonangol