BoI makes history with €1.43 billion loan syndication, 142.5% oversubscription
The Bank of Industry (BOI) has achieved a landmark success in its global loan syndication, securing €1.43 billion and surpassing its target by 42.5%.
This remarkable feat marks the largest syndication in the bank’s history, demonstrating the confidence of foreign investors in BOI and the Nigerian economy.
The syndicated loan facility, which includes fully and partially guaranteed tranches by Africa Finance Corporation (AFC), will be utilized to finance the growing demand for BOI funds across Nigeria. This development is a testament to the bank’s commitment to providing low-interest and longer-tenured funds to the country’s private sector.
BOI’s successful repayment of a €1 billion term loan syndicated facility in July 2024 paved the way for this achievement. The bank’s Managing Director/Chief Executive, Dr. Olasupo Olusi, attributed the success to the hard work and dedication of the BOI management team, aligning with President Bola Ahmed Tinubu’s vision for the country.
The oversubscription of the loan syndication by 142.5% reflects the international community’s positive outlook on Nigeria’s economic prospects, further solidifying BOI’s position as a leading development finance institution.
