By Aduragbemi Omiyale
Four financial institutions, including Standard Chartered Bank (StanChart Bank), played a key role in the $650 million five-year bond issued by Seplat, a local energy firm listed on the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE).
StanChart Bank acted as the global coordinator on the note priced at a yield and coupon of 7.75 per cent, a significant improvement over the 9.25 per cent coupon and initial yield of 9.50 per cent of Seplat’s debut corporate bond issued in 2018.
The transaction, regarded as the largest Nigerian oil and gas bond ever priced in international markets, was successfully executed in a challenging market backdrop demonstrating global investors’ confidence in Seplat and the lender’s deep knowledge of the oil and gas industry, access to diverse investor pool and strong relationships with the key stakeholders.
Standard Chartered remains the only bank that has led and served as global coordinators on all high yield Africa-linked oil and gas bond transactions since 2018 underscoring our unparalleled leadership in the space.
“Standard Chartered is proud to partner with Seplat on this landmark transaction which is the largest Nigerian oil and gas bond issuance by a corporate issuer. The success of this issuance, in the current challenging environment, demonstrates investors’ confidence in the Seplat strategy as a leading independent energy supplier.
“We continue to work with our clients across Africa to deliver on their growth aspirations,” the Executive Director in charge of Corporate, Commercial and Institutional Banking, Nigeria & West Africa at Standard Chartered, Mr Olukorede Adenowo, commented.
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology4 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Feature/OPED1 year ago
Davos was Different this year
Feature/OPED1 month ago
COVID and the Growth of Technology in Nigeria
Brands/Products2 months ago
Unilever Sells New Closeup Variant on Jumia at Lower Prices
Economy4 weeks ago
OPL 245: FG Fumes as Milan Court Acquits Eni, Shell
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria