- $1.75bn facility backs Sonangol’s operations and capital spending
- Deal highlights push for African-led, export-backed financing
LUANDA, ANGOLA — Afreximbank has closed a $1.75 billion syndicated receivables purchase facility for Angola’s state oil firm Sonangol, boosting funding for operations and investment in the energy sector.
The African Export-Import Bank said the financing, arranged alongside other mandated lead arrangers, will support Sonangol’s operating and capital expenditure needs while advancing Africa-led financing structures aimed at strengthening economic sovereignty and industrialisation.
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