Standard Chartered Bank (SCB), alongside three other banks, acted as Global Coordinator on Seplat’s $650 million five-year bond. The bond, priced at a yield and coupon of 7.75%, a significant improvement over the 9.25% coupon and initial yield of 9.50% of Seplat’s debut corporate bond issued in 2018.
The transaction was successfully executed in a challenging market backdrop demonstrating global investors’ confidence in Seplat and Standard Chartered’s deep knowledge of the Oil & Gas industry, access to diverse investor pool and strong relationships with the key stakeholders. This transaction is the largest Nigerian oil and gas bond ever priced in international markets.
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’s Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, Mr. Olukorede Adenowo noted that “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”.
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