Seplat Energy Plc has announced the results of its previously announced tender offer for cash of any and all of its outstanding 7.750% Senior Notes due 2026.
The Tender Offer was made upon and is subject to the terms and conditions set forth in the Offer to Purchase dated March 11, 2025.
The Tender Offer expired as of 5:00 p.m., New York City time, on March 18, 2025. As of the Expiration Deadline, (i) $567,462,000 in aggregate principal amount of the 2026 Notes, representing approximately 87.3% of the aggregate principal amount outstanding of the 2026 Notes, were validly tendered and not validly withdrawn.
In accordance with the terms of the Offer, the withdrawal deadline was 5:00 p.m., New York City time, on March 18, 2025. As a result, tendered Notes may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law.
The Company has accepted for purchase all the Notes that were validly tendered and not validly withdrawn as of the Expiration Deadline at a Purchase Price of U.S. $1,000 principal amount of Notes accepted for purchase, for expected settlement on March 21, 2025. No Notes were tendered under the guaranteed delivery procedures.
Any of the 2026 Notes not repurchased in the Tender Offer will be redeemed on April 1, 2025 under the terms of the Indenture.
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