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FCMB, Stanbic IBTC syndicate FHN’s $280m oil block acquisition

First City Monument Bank and Stanbic IBTC Bank are providing a $280 million (N44.8 billion) syndicated loan for the acquisition of 45 percent interest in OML 26 (an oil block) from Shell Petroleum Development Company of Nigeria Limited( SPDC) Total E and P Nigeria and the Nigeria Agip Oil Company, by First Hydrocarbon Nigeria (FHN).
Read the rest of the story on Businessday Nigeria

Added December 01, 2011
from Businessday Nigeria