Seplat Energy Raises $567m from Debt Notes
Seplat Energy Plc has announced successful completion of its tender offer for a total sum $567,462,000 or 87.3% from its $650 million it planned to raise from debt notes. The company revealed the results of its previously announced tender offer for cash of any and all of its outstanding 7.750% Senior Notes due 2026.
The pricing of the debt notes is targeted at refinancing an exiting obligations, according to document the company released. It said as of the expiration deadline, $567,462,000 in aggregate principal amount of the 2026 Notes, representing approximately 87.3% of the aggregate principal amount outstanding of the 2026 Notes, were validly tendered and not validly withdrawn.
Hence, Seplat Energy said it has accepted for purchase all the Notes that were validly tendered and not validly withdrawn as of the expiration deadline at a purchase price of U.S. $1,000.
The principal amount of Notes accepted for purchase from investors with March 21, 2025 being the expected settlement date, the company said in a regulatory filing.
“No Notes were tendered under the guaranteed delivery procedures. Any of the 2026 Notes not repurchased in the Tender Offer will be redeemed on April 1, 2025 under the terms of the Indenture”, the company said.
Recalled that Seplat Energy Plc announced the pricing of its $650 million note of 9.125% that will be due for redemption in 2025 last week. #Seplat Energy Raises $567m from Debt Notes Seplat Energy Prices $650m 9.125% Notes Due in 2030
