UBA leads consortium to stake $1.5bn on NNPC, NPDC’s project

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The United Bank for Africa Plc (UBA) recently acted as lead arranger of a consortium of domestic and international banks in a $1.5 billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). This is a pointer to the strength of the nation’s financial services industry, experts in the financial services industry have said. The facility, according to a statement by UBA Group on Tuesday evening, is structured in two tranches, the first tranche of which is $1 billion…

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