Seplat Energy Plc has successfully completed its tender offer to repurchase its outstanding 7.750% Senior Notes due 2026.
In a statement issued through the Nigerian Exchange (NGX) on Wednesday, the company announced that investors tendered a significant $567.46 million, representing approximately 87.3% of the total principal outstanding.
The tender offer, which was launched on March 11, 2025, concluded at 5:00 p.m. New York time on March 18, 2025.
Seplat confirmed that it accepted all validly tendered notes, with settlement scheduled for March 21, 2025, at a purchase price of $1,000 per $1,000 principal amount.
The company also clarified that no notes were submitted through the guaranteed delivery procedures, and the remaining untendered notes will be redeemed on April 1, 2025, as per the terms of the governing indenture.
