#Country Updates #News #Nigeria #Upstream Oil & Gas News

Nigeria’s Seplat Issues $650m Senior Oil And Gas Bond

Nigerian independent oil and gas firm, Seplat Petroleum Development Company, has issued a five year, $650-million senior bond with Natixis, Rand Merchant Bank and Société Générale serving as joint lead underwriters.  

Coordinated by Citi Bank, JP Morgan, Standard Chartered and Standard Bank, the deal marks the largest oil and gas offering in Nigeria’s history. It will be co-managed by FCMB Capital Markets, Nedbank, United Bank for Africa (UBA) and Zenith Bank Plc. 

 “The notes are priced at a yield of 7.75%, representing a significant pricing reduction from its $350-million debut issuance in 2018, which priced at a yield of 9.50%, with a coupon of 9.25%,” said Seplat in a statement. 

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Source: AfricaOilandPower

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