Seplat Petroleum Announces Refinancing of Reserve-Based Lending Facility

Seplat energy Revenue declined by 10.7% to N136bn in Q3 2020 Results Brandspurng

March 18, 2021: Seplat Petroleum Development Company Plc, 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 carries an 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.

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).