The Bank of Industry has raised approximately €1.43bn, the largest amount in the history of the bank, during the senior phase of its global loan syndication.
In a statement made available to The PUNCH on Thursday, the development finance institution said the transaction also recorded a 42.5 per% oversubscription.
It said the facility included a fully guaranteed and a partially guaranteed tranche by Africa Finance Corporation.
BoI raised €1bn via a term loan syndicated facility in July 2022, which was repaid in July 2024.
Commenting on the transaction, the Managing Director/Chief Executive of BoI, Dr Olasupo Olusi, said the proceeds of the loan would help finance a growing demand for BoI funds across the country.
Olusi said, “This is the largest syndication in the bank’s history and is a testament to the hard work and dedication of the management of BoI to ensuring that much-needed low-interest and longer-tenured funds are available to Nigeria’s growing private sector in line with the vision of His Excellency, President Bola Tinubu.
“We are grateful for the support received from the CBN and other agencies of government.”
