Photo caption: Seplat Energy logo
Seplat Energy Plc has announced the successful completion of its tender offer for cash repurchase of its outstanding 7.750 per cent senior notes due 2026.
In a regulatory filing on the Nigeria Exchange Limited on Wednesday, the company accepted $567.46m in aggregate principal amount of the notes, representing approximately 87.3 per cent of the total outstanding amount.
“As of the expiration deadline, $567,462,000 in aggregate principal amount of the 2026 notes, representing approximately 87.3 per cent of the aggregate principal amount outstanding of the 2026 notes, were validly tendered and not validly withdrawn,” Seplat Energy stated.
The company confirmed that all validly tendered notes had been accepted for purchase at $1,000 per principal amount, with settlement expected on March 21, 2025.
“No notes were tendered under the guaranteed delivery procedures,” Seplat Energy added.
The company further disclosed that any 2026 notes not repurchased in the tender offer would be redeemed on April 1, 2025, in line with the terms of the indenture.
The PUNCH reported that Seplat Energy Plc has announced the launch of a $650m senior notes offering due in 2030 as part of its broader debt refinancing strategy aimed at optimising its financial position and reducing debt costs.
