Seplat Energy Plc has announced the successful conclusion of its cash tender offer for its outstanding 7.750 per cent Senior Notes due 2026, with an aggregate principal amount of $567.46m tendered and accepted for purchase.
The company in a notice to the Nigerian Exchange Limited (NGX) said the tendered amount represents approximately 87.3 per cent of the total outstanding 2026 Notes, marking a significant milestone in the company’s debt management strategy.
The energy firm said the Tender Offer, launched on March 11, 2025, was conducted under the terms outlined in the Offer to Purchase document.
It noted that following the expiration deadline, all validly tendered Notes were accepted for purchase at a price of $1,000 per principal amount of Notes, with settlement expected on March 21, 2025.
Seplat Energy confirmed that no Notes were tendered under the guaranteed delivery procedures, and any remaining 2026 Notes not repurchased through the Tender Offer will be redeemed on April 1, 2025, as stipulated under the terms of the Indenture.
The company emphasized that the completion of the Tender Offer is a crucial step in optimizing its capital structure and reducing outstanding debt obligations.
