Seplat Energy PLC Refinancing of Revolving Credit Facility (3757B)
30 Septiembre 2022 - 06:30AM
UK Regulatory
TIDMSEPL
RNS Number : 3757B
Seplat Energy PLC
30 September 2022
Seplat Energy Plc
REFINANCING OF REVOLVING CREDIT FACILITY
Lagos and London - September 30, 2022: Seplat Energy Plc
("Seplat" or the "Company"), 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.
Inside Information
Some of the information contained within this announcement is
considered by Seplat Energy to constitute inside information, as
defined under the EU Market Abuse Regulation, EU No.596/2014. By
the publication of this Announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
Responsibility for publication
This announcement has been authorised for publication on behalf
of Seplat Energy by Emeka Onwuka, Chief Financial Officer, Seplat
Energy Plc.
Signed:
Emeka Onwuka
Chief Financial Officer
Enquiries:
Emeka Onwuka, Chief Financial Officer +234 1 277 0400
Edith Onwuchekwa, Director Legal/Company Secretary
Chioma Nwachuku, Director External Affairs & Sustainability
Brian Marcus, General Manager, Commercial & Corporate Finance
Carl Franklin, Head of Investor Relations
Ayeesha Aliyu, Investor Relations
Ben Brewerton / Christopher Laing +44 203 727 1000
seplatenergy@fticonsulting.com
=============================================================== ================================
Tom Reid / Luke Spells +44 207 986 4000
=============================================================== ================================
Chris Sim / Charles Craven / Jarrett Silver +44 207 597 4000
=============================================================== ================================
Notes to editors
Seplat Energy Plc is Nigeria's leading indigenous energy
company. It is listed on the Nigerian Exchange Limited (NGX:
SEPLAT) and the Main Market of the London Stock Exchange (LSE:
SEPL).
Seplat Energy is pursuing a Nigeria-focused growth strategy
through participation in asset divestments by international oil
companies, farm-in opportunities, and future licensing rounds. The
Company is a leading supplier of gas to the domestic power
generation market. For further information please refer to the
Company website, http://seplatenergy.com/
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END
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