RMB Secures $340M Refinancing for Indorama Fertilizer

Rand Merchant Bank (RMB) has coordinated a $340 million medium-term refinancing facility for Indorama Fertilizer, aimed at reinforcing its operations in Nigeria. The financing is fully underwritten by a development finance institution and an international commercial bank, providing a competitive funding structure to support Indorama's fertilizer operations.

Chidi Iwuchukwu, Executive Director and Head of Investment Banking at RMB Nigeria, stated that this transaction demonstrates RMB's commitment to providing strategic advisory services and supporting private sector investment in Nigeria's heavy industry and manufacturing sectors. Indorama Fertilizer is a significant player in Nigeria's non-oil export market, holding an 18% market share as of 2024, and contributing to food security by supplying 75% of the domestic market.

Enyinna Anumudu, Head of Infrastructure Finance at RMB, expressed pride in leading the refinancing arrangement, which aims to enhance the competitiveness of Nigeria's private sector in meeting domestic fertilizer demands.