Bloomberg: Shoreline Plans $2 Billion Bonds to Buy Africa Energy Assets

Shoreline Group, a Nigerian company with interests from oil production to rope-making across six African countries, plans to sell $2 billion in debt to buy crude and gas assets on the continent, which may include purchases in Equatorial Guinea and Tanzania.

The debut issue of as much as $500 million of five- to seven-year Eurobonds will probably happen before the end of the year, Chief Executive Officer Kola Karim said in an interview in his office in Lagos on June 2. He was speaking after a two-week roadshow in the U.S. and Middle East, arranged by two international banks he declined to identify.

“The winner of this market is going to be the guy who has access to not only local, but international capital,” said Karim, 46, wearing a striped, cream colored Nigerian traditional outfit. “I’m bullish about gas and gas infrastructure. If this country is going to grow that’s going to be huge.”

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