Last checked at 18 Mar 2021 07:00
Seplat Petroleum Development Company Plc ("Seplat" or "the Company")
Refinancing of Reserve-Based Lending Facility
Lagos and London - March 18, 2021: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange, announces that its wholly owned subsidiary, Westport Oil Limited, has successfully refinanced its existing US$100 million reserve-based lending facility due November 2023 with a new five-year US$100 million reserve-based lending facility due March 2026 (the "RBL"). The RBL carries initial interest of Libor + 8% payable semi-annually and is scheduled to commence repayment from March 2023. The RBL includes a US$75 million accordion to accommodate further commitments in the future.
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Enquiries:
Seplat Petroleum Development Company Plc +234 1 277 0400
Emeka Onwuka, Chief Financial Officer
Carl Franklin, Head of Investor Relations
Ayeesha Aliyu, Investor Relations
Chioma Nwachuku, General Manager, External Affairs & Communications
seplat@fticonsulting.com
Notes to editors
Seplat Petroleum Development Company Plc is Nigeria's leading indigenous energy company. It is listed on the Premium Board of the Nigerian Stock Exchange (NSE: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).
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. For further information please refer to the Company website, http://seplatpetroleum.com/