Nigeria LNG asks BNP Paribas to raise $1.6bn to buy six ships

LAGOS: Nigeria Liquefied Natural Gas Company has appointed French Bank BNP Paribas and GT Bank as financial advisers to raise around $1.6 billion to acquire six LNG carrier ships, a banking source close to the deal said on Wednesday.

The company, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, told Reuters a year ago it had contacted global banks to appoint advisers in other to explore the best option to raise funds.

The banking source said the loan was being structured as a medium to long term financing and that final tenor and pricing will be based on demand with financial close expected by the end of March 2013.