Seplat Energy Plc has successfully completed its tender offer for the repurchase of its outstanding 7.75% Senior Notes due 2026, securing investor participation of approximately $567.46 million. This represents about 87.3% of the total principal outstanding.
Thank you for reading this post, don't forget to subscribe!In a statement filed with the Nigerian Exchange (NGX) on Wednesday, Seplat Energy confirmed that the offer, launched on March 11, 2025, expired on March 18, 2025, at 5:00 p.m. New York time. The company accepted all validly tendered notes, with settlement scheduled for March 21, 2025, at a purchase price of $1,000 per $1,000 principal amount.
Seplat further stated that no notes were submitted under the guaranteed delivery procedures, and the remaining untendered notes will be redeemed on April 1, 2025, in accordance with the terms of the governing indenture.
“This strategic move underscores Seplat Energy’s commitment to optimizing its capital structure and enhancing financial flexibility,” the company stated.
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