Angola’s state oil firm obtains $2.65 billion in financing to cover operations and capital spending amid syndicated lending.
Sonangol, Angola’s state-owned oil company, has finalized a $2.65 billion financing agreement with a consortium of international banks. The funds will support operating expenses and capital investments for the firm.
The deal was led by foreign lenders including Société Générale, First Abu Dhabi Bank, Standard Bank of South Africa, and Absa, alongside local Angolan banks such as Banco Fomento de Angola and Banco Millennium Atlântico. The syndicated loan reflects continued foreign investment in Angola’s energy sector.
No immediate market reaction was disclosed in the release.