SEPLAT Petroleum Development ( (GB:SEPL) ) has issued an announcement.
Seplat Energy Plc has announced the pricing of its $650 million senior notes due in 2030, with an interest rate of 9.125%. The proceeds from this issuance will be used to repurchase the company’s outstanding 7.750% senior notes due in 2026 and cover transaction fees. This strategic financial move is part of Seplat’s broader refinancing efforts, which include a tender offer for the 2026 notes, conditional on the successful completion of the new notes offering. This refinancing initiative is expected to enhance Seplat’s financial flexibility and strengthen its market position.
More about SEPLAT Petroleum Development
Seplat Energy Plc is a prominent player in the energy sector, primarily engaged in the exploration and production of oil and gas. The company operates in Nigeria and the United Kingdom, focusing on developing energy resources to meet market demands.
YTD Price Performance: -9.23%
Average Trading Volume: 395,728
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £1.02B
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