Afreximbank facilitates $650m for Oando’s acquisition of NOAC

The African Export-Import Bank has revealed that it facilitated $650m for Oando’s acquisition of the 100 per cent stake in the Nigerian Agip Oil Company Ltd. In a statement on Friday, the continental bank said it successfully arranged a senior $500m and a junior $150m reserve-based lending facility for Oando Petroleum and Natural Gas Company