Seplat lists $350m Notes on int’l securities market

Seplat Petroleum Development Company Plc has announced that its $350 million 9.25 per cent Senior Notes due 2023 have been listed and admitted for trading on the International Securities Market of the London Stock Exchange (LSE).

The Notes were issued on March 21, 2018 and listed on the Euro MTF market of the Luxembourg Stock Exchange.

According to a statement obtained from the Nigerian Stock Exchange yesterday, the company noted that the announcement was not an offer of securities of the company for sale in the United States.

It noted that the securities have not been registered under the U.S. Securities Act of 1933, as amended and might not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act.

“The company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Any offering of securities will be made by means of a prospectus that may be obtained from the company and that will contain detailed information about the company and its management, as well as financial statements,” management noted.

“This announcement is not an offering circular or an invitation to the public to acquire or dispose of any securities of the company pursuant to the Nigerian Investments and Securities Act, No. 29 of 2007 and the Rules and Regulations of the Nigerian SEC, 2013, as amended. The securities have not been registered under the ISA and may not be offered or sold within Nigeria to, or for the account or benefit of, persons resident in Nigeria, except to the extent that the relevant offering memorandum and the securities have been registered with the Nigerian SEC and its written approval obtained in accordance with the provisions of the ISA and the Nigerian SEC Rules.”

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