Seplat Energy Plc, a leading Nigerian independent Energy Company listed on both the Nigerian Exchange Limited (NGX) and the London Stock Exchange (LSE) has said that its wholly-owned subsidiary, Westport Oil Limited successfully raised a $50million Offtake linked reserved based lending facility due April 2027.
Seplat Energy Plc in a July 19 notice at the Nigerian Exchange Limited signed by its Chief Financial Officer, Emeka Onwuka said “The Offtake Facility is subordinated to the $110 million senior reserve-based lending facility.”
Read also: NGX implements SEPLAT’s name change to Seplat Energy Plc
It further noted: “The Offtake Facility carries initial interest of Libor + 10.5percent payable semi-annually and is scheduled to commence repayment from March 2023.”
Seplat Energy Plc is Nigeria’s leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange Limited (NGX) and the Main Market of the London Stock Exchange (LSE).
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.
