Seplat Energy Plc has completed a successful tender offer for its 7.750 percent Senior Notes due in 2026, securing a repurchase of approximately 87.3 percent of its outstanding bonds. The offer, which concluded on March 18, 2025, saw investors tendering bonds worth $567.46 million.
The company confirmed that the repurchased notes are set to be settled on March 21, 2025, with the purchase price pegged at $1,000 per $1,000 principal amount. In relation to the untendered notes, Seplat announced plans for their redemption on April 1, 2025, as per the governing indenture.
The move is part of Seplat Energy’s broader strategy to optimize its capital structure and improve financial stability.
Source: Read more