Charles Abuede The local bourse continued in its staggering movement on Wednesday due to selling pressures in MTN Nigeria (-2.9%), Access Bank (-3.6%), and Stanbic IBTC (-1.0%) which dragged the All-Share Index lower by 0.57 per cent to settle at 39,045.13 points. As a result, the market year to date loss worsened to -3.0 per […]
• Becomes largest-ever Nigerian oil and gas bond issuer Seplat Petroleum Development Company Plc (Seplat), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has priced its offering of $650 million in an aggregate principal amount of senior notes due 2026 (the notes). The […]
Proshare Nigeria Pvt. Ltd. FGN Bonds The bears dominated the FGN bond market opening the week as traders remained aggressively offered across the curve with very few bids to match. The weak appetite for FGN bonds despite the scarcity of short-term instruments can be attributed to the uncertainty surrounding monetary policy, which is also further […]
By Taofik Salako, Deputy Group Business Editor Seplat Petroleum Development Company Plc has launched a process to raise new debt capital from the international capital market to enable it debts and finance corporate growth plan. In a regulatory filing, Seplat, which is quoted on the London Stock Exchange (LSE) and Nigerian Stock Exchange (NSE), stated […]
Seplat Petroleum Development Company Plc, a Nigerian independent energy company, said on Sunday that it had priced its offering of $650m in aggregate principal amount of senior notes due 2026. It said the notes priced at a yield of 7.75 per cent, represented a significant pricing reduction from its $350m debut issuance in 2018, which […]
The stock market rebounded last week after seven consecutive weeks of depreciation as investors responded positively to the dividends declared by Dangote Cement Plc and Stanbic IBTC Holdings Plc. The market had depreciated for six weeks due to weak investors’ sentiments. However, respite came last week as the Nigerian Stock Exchange (NSE) All-Share Index rose […]
Charles Abuede Seplat Petroleum Development Company Plc, Nigeria’s leading indigenous energy company, has announced the successful refinancing of its wholly-owned subsidiary, Westport Oil Limited, in the tune of $100 million for its reserve-based lending (RBL) facility that was due November 2023 with a new five-year $100 million reserve-based lending facility due March 2026. Seplat in […]
Charles Abuede The mood in the market was mildly negative on Wednesday, underpinned by sell pressures in the banking space. Retreating from Tuesday’s gains, the local bourse finished the day slightly lower, indicating a 0.04 per cent drop in the NSE-ASI to 38,706.13 points following sell-offs across GUARANTY (-1.8%), FBNH (-1.4%), and MANSARD (-5.1%). Accordingly, […]
Charles Abuede The equities market remains depressed in the first trading sessions of the week as selloffs across top counters persist due to price depreciation in GTBank (-2.6%), Nigerian Breweries (-5.3%) and International Breweries (-3.8%) which dragged down the benchmark index by 0.22 per cent to 38,561.84 points. Consequently, the market year to date loss […]
Company Logo Shares of Exxon Mobil Corp. XOM, +2.79% shed 1.24% to $56.69 Tuesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, +1.18% falling 0.32% to 3,958.55 and Dow Jones Industrial Average DJIA, +0.52% falling 0.31% to 33,066.96. This was the stock’s second […]
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