Seplat Energy Plc has launched a $650m senior note offering due in 2030.
A statement filed at the Nigerian Stock Exchange (NSE) on Tuesday, said the net proceeds of the offering will be used to repurchase Issuer’s outstanding 7.750% Senior Notes due 2026, and to pay transaction fees and expenses.
The firm has also announced a concurrent any-and-all tender offer on its outstanding USD $ 650 million 7.750% Senior Notes due April 2026, conditional upon, among other things, the successful completion of the New Notes Offering.
The tender offer expiration and withdrawal deadline is set for 5.00 pm NYT on March 18, 2025, pursuant to the Offer to Purchase dated March 11, 2025.
It said, “Following completion of the Tender Offer and provided the Financing Condition is met, Seplat intends to redeem any remaining outstanding 2026 Notes pursuant to the terms of the indenture governing the 2026 Notes dated April 01, 2021.”
