Global law firm Clifford Chance has advised Dangote Petroleum Refinery and Petrochemicals FZE (”DPRP”) on its debut international bond issuance of US $750,000,000 7.500% Senior Notes due 2031 via a private placement transaction.
The successful offering reflects strong investor confidence in DPRP, its strategic importance within Africa’s energy and industrial sectors and the continued appetite of international investors for high-quality African credit opportunities. The offering provides DPRP with long-term financing to support its strategic objectives and enhance its financial flexibility.
Clifford Chance partner, Michael Dakin, commented: “We are pleased to have advised DPRP on this significant transaction and to continue supporting the Dangote Group across its capital markets and financing activities. The DPRP bond offering, together with the US$750 million and US$600 million private placements completed earlier this year for Dangote Fertilizer and Greenview Fertiliser, on which we also advised the Group, demonstrates the breadth of the Dangote Group’s financing programme and its continued engagement with international investors. We value our longstanding relationship with the Dangote Group and look forward to supporting its future growth and strategic objectives.”
The Clifford Chance team was led by partners Michael Dakin and Johannes Juette, with support from senior associate Yash Ranade, associate Geoffrey Adonu and law clerk Saherish Surani. Edmund Boyo (Dubai) and Stephen Chance (Abu Dhabi) provided wider financing and senior relationship oversight as financing advisers to the Dangote Group.
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