REG - Seplat Energy PLC - Notice of Redemption

Seplat EnergyAnnouncement

24/03/2025 15:30

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RNS Number : 9297B  Seplat Energy PLC  24 March 2025

 

Announcement

 

Seplat Energy Plc (the "Issuer")

 

$650,000,000 aggregate principal amount of 7¾% Senior Notes due 2026 (the
"Notes")

ISIN: XS2325735897, Common Code: 232573589 (Regulation S)

ISIN: US81733LAB36, Common Code: 232572108, CUSIP: 81733LAB3 (Rule 144A)

 

 

Redemption Date: April 1, 2025

 

March 24, 2025: The Issuer announces that it gave notice pursuant to paragraph
8 of the Notes and Sections 3.01, 3.02, 3.04, 11.01 and 11.03 of the indenture
dated April 1, 2021 among, inter alios, the Issuer, Citibank, N.A., London
Branch, as trustee (the "Trustee"), and Citibank, N.A., London Branch as
principal paying agent (the "Paying Agent"), paying agent, transfer agent and
registrar (the "Indenture"), that the Issuer has elected to redeem the entire
outstanding principal amount of the Notes outstanding on April 1, 2025
pursuant to paragraphs 6(b) and 8 of the Notes and Sections 3.02, 3.04 and
3.09(b) of the Indenture.

The terms and conditions of the redemption are as follows:

1.         The redemption date for the Notes will be April 1, 2025
(the "Redemption Date"). The record date, on which any holder of Notes must
hold any Notes to be entitled to the Redemption Price (as defined below), will
be March 31, 2025, being the Business Day immediately prior to the Redemption
Date.

 

2.      The redemption price of the Notes is 100.000% of the principal
amount of the Notes to be redeemed, plus accrued and unpaid interest from
October 1, 2024 (the last Interest Payment Date for which interest on such
Notes was paid) to (but not including) the Redemption Date, and Additional
Amounts, if any (the "Redemption Price"). Assuming a Redemption Date of April
1, 2025, the Issuer will have paid prior to the Redemption Date, the accrued
and unpaid interest from October 1, 2024, to, but excluding, the Redemption
Date, which will be $ 3,198,347.5 ($1,038.75 per $1,000 denomination).

 

3.         The Notes called for redemption must be surrendered to
Citibank N.A., London Branch as Paying Agent, at Citigroup Centre, Canada
Square, Canary Wharf, London E14 5LB, United Kingdom, Attention: Agency and
Trust, to collect the Redemption Price plus accrued interest, if any, and
Additional Amounts, if any.

 

4.         Unless the Issuer defaults in making the redemption payment
in the amount of the Redemption Price or the Paying Agent is prohibited from
making such payment pursuant to the terms of the Indenture, interest and
Additional Amounts, if any, on the Notes (or portion thereof) called for
redemption shall cease to accrue on and after the Redemption Date.

 

5.         The Notes will be redeemed in full in accordance with
paragraph 8 of the Notes and Section 3.1 of the Indenture.

 

6.         The ISIN, Common Code and CUSIP numbers in relation to the
Notes being redeemed are as set forth above. No representation is made as to
the correctness or accuracy of such numbers listed herein or printed on the
Notes.

 

Capitalized terms used but not defined herein have the meanings ascribed to
them in the Indenture.

 

This Announcement does not constitute a Notice of Redemption for purposes of
Article III of the Indenture. In connection with the foregoing, a Notice of
Redemption has been provided to the Trustee. Noteholders should rely on that
Notice of Redemption and not this Announcement.

 

Any questions regarding this Announcement should be directed to the Issuer to
the attention of:

 

Eleanor
Adaralegbe
EAdaralegbe@seplatenergy.com (mailto:EAdaralegbe@seplatenergy.com)
 

Brian Marcus
 
BMarcus@seplatenergy.com (mailto:BMarcus@seplatenergy.com)
 

Seplat Investor
Relations
                Ir@seplatenergy.com
(mailto:Ir@seplatenergy.com)
 

 

 

 

 

- ENDS -

 

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