Seplat Lists $350m Notes on London Stock Exchange

Seplat Lists $350m Notes on London Stock Exchange

By Modupe Gbadeyanka The management of Seplat Petroleum Development Company (Seplat) has announced the listing of its $350 million 9.25 percent Senior Notes due 2023 on the International Securities Market of the London Stock Exchange (LSE).

Business Post recalls that the Notes were issued on March 21, 2018 and listed on the Euro MTF market of the Luxembourg Stock Exchange.

Seplat is a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange (NSE) and the LSE.

The $350 million senior notes were issued by the company and guaranteed by certa in of its subsidiaries.

In a statement issued in March this year when the notes were issued, the Chief Financial Officer (CFO) of Seplat, Mr Roger Brown, had disclosed that the gross proceeds of the notes would be “used to repay and cancel existing indebtedness.”

It was then disclosed that the exercise attracted investors majorly from the European region with those in Nigeria and the United States excluded from the process.

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