Monday, February 24, 2014

Nigeria: Dangote leads in record syndicated loan surge

Aliko Dangote. PHOTO/File

(Bloomberg) - Billionaire Aliko Dangote, Africa’s richest man, helped fuel a record surge in syndicated loans by Nigerian borrowers last year with a US$3.3 billion facility.

The nation’s companies signed more than US$13 billion of syndicated debt, four times the amount raised in 2012, according to data compiled by Bloomberg. Dangote Industries Ltd. got its loan from local and international banks to help fund construction of a US$9 billion oil refinery and

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