Dangote Fertiliser Mulls Private Placement of About $750 Million

Dangote Fertiliser Ltd is preparing to sell bonds directly to a small group of investors as it expands its production capacity and prepares for an initial public offering.

The company is a subsidiary of the Dangote Industries conglomerate owned by Africa’s richest man, Aliko Dangote. It is seeking to raise around $750 million from a private placement, according to people familiar with the matter who asked not to be identified because it is private. Bank of America Corp. and JP Morgan Chase & Co are working on the potential deal, some of the people added.