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Shoreline Plans $2 Billion Bonds to Buy Africa Energy Assets

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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.