Afreximbank, UBA Begin Initial Disbursement Of $2.25bn Out Of $3.3bn NNPCL Facility

The African Export-Import Bank (Afreximbank) has successfully arranged a syndicated $3.3bn crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPCL).

An initial disbursement of $2.25bn has been made and a second tranche of $1.05bn is expected to be disbursed subsequently.