馃嚦馃嚞NigeriaWest Africa
RMB leads $340 million refinancing for Indorama Fertilizer in Nigeria
via Punch Nigeria2 min read
Rand Merchant Bank RMB, a division of the First Rand Group, acted as Coordinator and Lead Arranger for a $340 million refinancing package for Indorama Fertilizer and Chemicals FZE Limited in Nigeria. This medium-term debt financing, fully underwritten by Development Financial Institutions and international commercial banks, aims to provide a more competitive funding solution for Indorama's brownfield development. Indorama FZE achieved 2.7 million Metric Tonnes in urea production in 2025, with 103% capacity utilization. Chidi Iwuchukwu, Executive Director and Head Investment Banking RMB Nigeria, stated that this financing demonstrates RMB's commitment to supporting private sector investment in Nigeria's heavy industry manufacturing segment and non-oil export growth. Indorama FZE is Nigeria's largest non-oil exporter, holding over 18% of non-oil exports in 2024, and contributes significantly to domestic food production with a 75% market share in Nigeria. Following its Line 3 commissioning in June 2026, Indorama is expected to become the world's largest single-site urea producer. Enyinna Anumudu, Senior Dealmaker and Head Infrastructure Finance Nigeria, noted that this financing supports the long-term competitiveness of the Nigerian private sector in meeting fertilizer demand and promoting food sufficiency.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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