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Afreximbank Underwrites $2.5B Term Loan for Dangote Petroleum Refinery

The African Export-Import Bank has underwritten a $2.5 billion five-year term loan for Nigeria's Dangote Petroleum Refinery, jointly arranged with Access Bank, to refinance and optimize the facility's capital structure. The 650,000 barrels-per-day refinery is Africa's largest, and this transaction represents Afreximbank's largest single share in current syndication. This financing consolidates approximately $15 billion provided to Dangote Group since 2015.