Seplat Energy Plc has announced plans to redeem its outstanding notes worth $3.2m on April 1, 2025, in line with its indenture agreement.
In a notice issued by the company on Monday, the Chief Financial Officer, Eleanor Adaralegbe, stated that the redemption covers the entire outstanding principal amount of the notes issued under the indenture dated April 1, 2021.
According to the notice, noteholders must hold their notes by March 31, 2025, to be eligible for the redemption payment, which includes the full principal amount and accrued interest.
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The redemption price has been set at 100 per cent of the principal value, with additional accrued and unpaid interest from October 1, 2024, up to but not including the redemption date.
Seplat Energy announced the redemption of its notes on April 1, 2025, with a record date of March 31, 2025, at a price of 100% principal plus accrued interest of $1,038.75 per $1,000 denomination, totaling $3,198,347.50
Seplat Energy will redeem $3.2m notes on April 1, 2025, paying accrued interest of $1,038.75 per $1,000 denomination, and has advised noteholders to surrender notes to Citibank N.A. to receive payment.
it was reported that Seplat Energy Plc has announced the successful completion of its tender offer for cash repurchase of its outstanding 7.750 per cent senior notes due 2026.
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