The Bank of Industry (BOI) has announced a landmark €1.43 billion loan syndication, exceeding its target by 42.5% and representing a 142.5% subscription rate. This achievement demonstrates confidence in the bank and the Nigerian economy from foreign investors.
The facility, which includes fully and partially guaranteed tranches by Africa Finance Corporation (AFC), will finance growing demand for BOI funds across Nigeria. Managing Director/Chief Executive, Dr. Olasupo Olusi, stated that this syndication is the largest in the bank’s history and aligns with President Bola Ahmed Tinubu’s vision to support Nigeria’s private sector.
BOI appointed AFC and Standard Chartered Bank as Global Coordinators, with several other institutions serving as Initial Mandated Lead Arrangers and Bookrunners. The bank looks forward to a successful conclusion of the ongoing general phase, given the strong interest from local and international banks and investors.
Dr. Olusi assured that BOI will continue to work with global development financial institutions to secure better loan terms for Nigeria’s private enterprises.
