Boma Achenimie 
The Bank of Industry (BOI) has announced that it has received €1.425 billion in the senior phase of its global loan syndication, representing a 42.5% oversubscription from international financial markets.
This landmark transaction marks a significant milestone for the bank and demonstrates confidence in the Nigerian economy from foreign investors.
The facility includes a fully guaranteed and partially guaranteed tranche by Africa Finance Corporation. The proceeds will help finance the growing demand for BOI funds across the country.
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According to BOI’s MD/CEO, Dr Olasupo Olusi, this is the largest syndication in the bank’s history and a testament to the hard work and dedication of the management team.
The bank will continue to work with global development financial institutions to ensure better loan terms for Nigeria’s private enterprises.
The syndication was led by Africa Finance Corporation and Standard Chartered Bank as Global Coordinators, with several international banks participating as Initial Mandated Lead Arrangers and Bookrunners.
BOI looks forward to a successful conclusion of the ongoing general phase, given the high level of interest expressed by local and international banks and investors.
