Seplat Energy’s subsidiary raises $50m facility
Seplat Energy Plc, a Nigerian independent energy company, has announced that its wholly-owned subsidiary, Westport Oil Limited, has successfully raised
Seplat Energy Plc, a Nigerian independent energy company, has announced that its wholly-owned subsidiary, Westport Oil Limited, has successfully raised a $50 million offtake-linked reserved-based lending facility due April 2027.
The offtake facility is subordinated to the $110 million senior reserve-based lending facility, according to a statement on Monday.
“The offtake facility carries initial interest of Libor + 10.5 percent payable semi-annually and is scheduled to commence repayment from March 2023,” the firm said.
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