{"id":47801,"date":"2021-03-28T23:14:50","date_gmt":"2021-03-28T22:14:50","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=47801"},"modified":"2021-03-28T23:14:50","modified_gmt":"2021-03-28T22:14:50","slug":"seplat-issues-650-million-5-year-senior-notes-records-largest-nigerian-oil-gas-bond","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/seplat-issues-650-million-5-year-senior-notes-records-largest-nigerian-oil-gas-bond\/","title":{"rendered":"Seplat Issues $650 million 5-year Senior Notes  \u2026 Records Largest Nigerian Oil &#038; Gas Bond"},"content":{"rendered":"<p class=\"yiv3240687005MsoNormal\"><span lang=\"EN-GB\">Seplat Petroleum Development Company Plc (\u201cSeplat\u201d or the \u201cCompany\u201d), a leading Nigerian independent energy Company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has priced its offering of $650 million in aggregate principal amount of senior notes due 2026 (the &#8220;Notes&#8221;).<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-47106\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2021\/02\/download-3-1.jpeg\" alt=\"\" width=\"173\" height=\"292\" srcset=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/02\/download-3-1.jpeg 173w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/02\/download-3-1-65x110.jpeg 65w\" sizes=\"auto, (max-width: 173px) 100vw, 173px\" \/><\/p>\n<p class=\"yiv3240687005MsoNormal\"><span lang=\"EN-GB\">The Notes 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%.\u00a0\u00a0The size represents, the largest ever Nigerian oil and gas bond issuance.<\/span><\/p>\n<p class=\"yiv3240687005MsoNormal\"><span lang=\"EN-GB\">The offering was well oversubscribed with demand from 120 global investors from more than 20 countries resulting in a final overbook in excess of $1.1bn, which was 1.7 times book coverage.\u00a0\u00a0Orders came from high quality institutional investors with long term commitments to Seplat as well as new institutional investors. The transaction was well received in the market and traded above par post-pricing.\u00a0<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv3240687005MsoNormal\"><span lang=\"EN-GB\">The transaction shows confidence by the international market in the Nigerian economy and the oil and gas sector in particular, with a number of the investors committing to the transaction based on the strong gas story of Seplat.<\/span><\/p>\n<p class=\"yiv3240687005MsoNormal\"><span lang=\"EN-GB\">The\u00a0<\/span><span lang=\"EN-GB\">Global Coordinators on the transaction are Citi, J.P. Morgan, Standard Bank and Standard Chartered Bank, with Natixis, Rand Merchant Bank and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale acting as Joint Bookrunners and FCMB Capital Markets, Nedbank, United Bank for Africa and Zenith Bank Plc acting as Co-Managers.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Seplat Petroleum Development Company Plc (\u201cSeplat\u201d or the \u201cCompany\u201d), a leading Nigerian independent energy Company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has priced its offering of $650 million in aggregate principal amount of senior notes due 2026 (the &#8220;Notes&#8221;).<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":18502,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[576,8404,4282],"coauthors":[2391],"class_list":["post-47801","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-capital-market","tag-nigerian-independent-energy-company","tag-stock-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seplat Issues $650 million 5-year Senior Notes \u2026 Records Largest Nigerian Oil &amp; 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