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Seven Energy secures $500mln loan for gas infrastructure

Seven Energy, the Nigerian Oil and Gas company which counts several private equity, sovereign wealth and DFI funds among its investors, is taking on almost $500 million in fresh debt to help build and improve its infrastructure in preparation for planned purchases of gas fields and pipelines in the country. In 2014, the company raised $255 million in equity from investors which included Singapore’s sovereign wealth fund, Temasek, to help it build up its gas business.

The new debt is being provided by a consortium of lenders that includes First Bank, Eco Bank, FCMB, Union Bank, United Bank for Africa, FBN Bank UK and Union Bank UK.

Read more at Ventures Africa…

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