Seplat secures 87% buyback of $567m bond in tender offer

In a statement released through the Nigerian Exchange (NGX) on Wednesday, the company said the offer is with investors tendering a substantial $567.46 million, representing approximately 87.3 per cent of the total principal outstanding.

The Tender Offer, launched on March 11, 2025, expired at 5:00 p.m. New York time on March 18, 2025.

The energy firm said it accepted all validly tendered notes, with settlement set for March 21, 2025 at a purchase price of $1,000 per $1,000 principal amount.

Seplat also clarified that no notes were submitted under the guaranteed delivery procedures, and that the remaining untendered notes would be redeemed on April 1, 2025, in accordance with the terms of the governing indenture.

“This strategic move underscores Seplat Energy’s commitment to optimising its capital structure and enhancing financial flexibility,” the notice added.Seplat Energy Plc has successfully concluded its tender offer for the repurchase of its outstanding 7.750 per cent Senior Notes due 2026.

In a statement released through the Nigerian Exchange (NGX) on Wednesday, the company said the offer is with investors tendering a substantial $567.46 million, representing approximately 87.3 per cent of the total principal outstanding.

The Tender Offer, launched on March 11, 2025, expired at 5:00 p.m. New York time on March 18, 2025.

The energy firm said it accepted all validly tendered notes, with settlement set for March 21, 2025 at a purchase price of $1,000 per $1,000 principal amount.

Seplat also clarified that no notes were submitted under the guaranteed delivery procedures, and that the remaining untendered notes would be redeemed on April 1, 2025, in accordance with the terms of the governing indenture.

“This strategic move underscores Seplat Energy’s commitment to optimising its capital structure and enhancing financial flexibility,” the notice added.