Seplat Petroleum Development Co PLC Refinancing of Reserve-Based Lending Facility (6300S)
18 Marzo 2021 - 1:00AM
UK Regulatory
TIDMSEPL
RNS Number : 6300S
Seplat Petroleum Development Co PLC
18 March 2021
Seplat Petroleum Development Company Plc ("Seplat" or "the
Company")
Refinancing of Reserve-Based Lending Facility
Lagos and London - March 18, 2021: Seplat Petroleum Development
Company Plc ("Seplat" or the "Company"), a leading Nigerian
independent energy company listed on both the Nigerian Stock
Exchange and the London Stock Exchange, announces that its wholly
owned subsidiary, Westport Oil Limited, has successfully refinanced
its existing US$100 million reserve-based lending facility due
November 2023 with a new five-year US$100 million reserve-based
lending facility due March 2026 (the "RBL"). The RBL carries
initial interest of Libor + 8% payable semi-annually and is
scheduled to commence repayment from March 2023. The RBL includes a
US$75 million accordion to accommodate further commitments in the
future.
- ENDS -
Enquiries:
Seplat Petroleum Development Company Plc +234 1 277 0400
Emeka Onwuka, Chief Financial Officer
Carl Franklin, Head of Investor Relations
Ayeesha Aliyu, Investor Relations
Chioma Nwachuku, General Manager, External Affairs &
Communications
seplat@fticonsulting.com
Notes to editors
Seplat Petroleum Development Company Plc is Nigeria's leading
indigenous energy company. It is listed on the Premium Board of the
Nigerian Stock Exchange (NSE: SEPLAT) and the Main Market of the
London Stock Exchange (LSE: SEPL).
Seplat is pursuing a Nigeria-focused growth strategy and is well
positioned to participate in future 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://seplatpetroleum.com/
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END
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March 18, 2021 03:00 ET (07:00 GMT)
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