Oando Plc has announced that its upstream subsidiary, Oando Oil Limited, has successfully increased its reserve-based loan facility to $375 million following capital injection from Afreximbank and Mercuria.
The announcement was detailed in a disclosure filed with the Nigerian Exchange (NGX) on June 4, 2025, and signed by the company secretary, Ayotola Jagun.
As stated in the release, the refinancing of Oando’s reserve-based lending (RBL2) facility was led by the African Export-Import Bank (Afreximbank), with additional backing from Mercuria Asia Resources PTE Limited.
