RESILIENT MEIA ENTERTAINMENT BENNY QUETELL

Saturday, December 22, 2012

How Oando Plans To Fund $1.8 billion ConocoPhillips Acquisition


The biggest indigenous oil and gas concern, Oando, plans to fund its $1.79 billion purchase of ConocoPhillips’ local unit through a sale of debt and shares. After paying a cash deposit of $435 million, Oando plans to raise the balance of $1.36 billion through private placements, a share sale and an $800 million loan from local and international lenders, it said today in a statement. The acquisition was announced yesterday.

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