Seplat Petroleum issues US$650m 5-year oil and gas bond, the largest in Nigeria

NIGERIA – Seplat Petroleum Development Company Plc, 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 US$650 million in aggregate principal amount of senior notes due 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. The Notes priced at a yield of 7.75%, representing a significant pricing reduction from its US$350 million debut issuance in 2018, which priced at a yield of 9.50% , with a coupon of…

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Ecobank Nigeria issues US$300m bond with a tenor of five years

NIGERIA – Ecobank Nigeria, a wholly owned subsidiary of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has successfully priced its US$300 million bond issuance maturing in February 2026, with settlement of the bond to take place on February 16, 2021. The fixed-rate, US dollar-denominated bond, with a tenor of five years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S&P. The coupon / yield represents the…

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