Seplat Energy Prices $650m 9.125% Notes Due in 2030
Seplat Energy Plc has announced the pricing of its $650 million note of 9.125% that will be due for redemption in 2025, details obtained from its issuance document revealed.
The debt notes will be issued by the Company and guaranteed by certain of its subsidiaries. The management revealed that the gross proceeds will be used repurchase Issuer’s outstanding 7.750% Senior Notes due April 2026.
The company is also seeking to pay transaction fees and expenses from the proceeds. Seplat had also announced a concurrent any-and-all tender offer on its outstanding 2026 Notes conditional upon, among other things, the successful completion of the New Notes Offering.
It said the tender offer expiration and withdrawal deadline is set for 5.00pm New York Time on March 18, 2025, pursuant to the Offer to Purchase dated March 11, 2025.
Seplat intends to redeem any remaining outstanding 2026 Notes pursuant to the terms of the indenture governing the 2026 Notes dated April 01, 2021. #Seplat Energy Prices $650m 9.125% Notes Due in 2030#
