Seplat Energy Announces Refinancing of Resolving Credit Facility

Source: www.gulfoilandgas.com 9/30/2022, Location: Africa

Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces that it has successfully refinanced its existing US$350million revolving credit facility due December 2023 with a new three-year US$350million revolving credit facility due June 2025 (the "RCF"). The RCF includes an automatic maturity extension until December 2026 once a refinancing of the existing US$650million bond due April 2026 is implemented. The RCF is scheduled to reduce from July 2024, with such date automatically extended to July 2025 once the refinancing of the existing US$650million bond due April 2026 is implemented. The RCF carries initial interest of 6% over the base rate (SOFR plus applicable credit adjustment spread) with the margin reducing to 5% after production flowing through the Amukpe-to-Escravos pipeline is stabilized at an average working interest production of at least 15,000 bpd over a 45 consecutive day period. The pricing is in line with the existing RCF pricing, although it reflects a change in the base rate from LIBOR to SOFR plus the applicable credit adjustment spread.


Australia >>  12/7/2022 - Santos today announced a simplified capital management framework targeting higher shareholder returns and including a minimum annual return of at leas...
Australia >>  12/6/2022 - Lightsource bp, a global leader in the development and management of solar energy projects, has successfully closed on a A$540 million portfolio green...

Canada >>  12/6/2022 - Touchstone Exploration has launched a private placement in Canada to raise a minimum of C$7.5 million (approx. US$5.5 million and £4.5 million) up to ...
United States >>  12/6/2022 - Tigo Energy, Inc. (“Tigo”), a leading provider of intelligent solar and energy storage solutions, and Roth CH Acquisition IV Co. (NASDAQ: ROCG) (“Roth...

Bermuda >>  12/5/2022 - Reference is made to the stock announcement on October 4, 2022, where Golden Ocean Group Limited (OSE/NASDAQ: GOGL) announced the commencement of its ...
Bermuda >>  12/5/2022 - Golar LNG Limited ("Golar") announces an offer to buy-back parts of its USD 300,000,000 senior unsecured bonds maturing 20 October 2025 (with ISIN NO ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.