Dangote Petroleum Refinery prices $750m five-year dollar bond at 7.50%

On 16 July 2026 Dangote Petroleum Refinery priced a $750 million five-year Rule 144A bond due 16 July 2031 at a 7.50% coupon (priced at par), raising long-term dollar funding via a US QIB private placement. Interest accrual begins 16 July 2026 and the issue includes a make-whole call through July 16, 2028.

The bond creates a large corporate five-year USD benchmark out of Nigeria: its pricing near the sovereign curve can compress or reset five-year sovereign–corporate spreads and provide a reference for other Nigerian issuers’ dollar funding costs. Where investors set relative credit premia against Nigeria sovereign paper will influence secondary spread dynamics; actual sovereign or FX moves depend on separate macro and market flows.

First semi-annual coupon payment scheduled 16 January 2027; monitor any filing around the planned IPO and secondary listings.