The Nigerian Liquefied Natural Gas company (NLNG) is receiving proposals for a $1-billion syndicated loan that will enable it purchase new LNG tankers.

ExxonMobil and Nigerian National Petroleum Corporation’s $1.5-billion loan to back the development of offshore oil fields is expected to close by the end of this month, while negotiations for NNPC’s second $1.5-billion deal are under way.

They join other African borrowers looking to tap into the international syndicated loan market this year, with active deals across the continent totaling $6-billion, according to bankers familiar with the development.

NLNG is getting the loan with potential sponsorship from the NNPC, ENI, Shell and Total, according to a report by local paper, Business Day.