UUBO is pleased to have advised on the offering of US$650 million in guaranteed senior notes by Seplat Petroleum Development Company Plc on the London Stock Exchange. The firm acted for Citigroup Global Markets Limited, J.P Morgan Securities Plc, Nedbank Limited, Rand Merchant Bank, Société Générale, The Standard Bank of South Africa Limited, Standard Chartered Bank, Natixis, FCMB Capital Markets Limited, UBA Plc, United Capital Plc and Zenith Bank Plc (as Initial Purchasers)
The transaction is the largest ever oil and gas bond offering by a Nigerian-based issuer in the international capital markets, and was concluded despite the current challenges of the Covid-19 Pandemic.
The UUBO team was led by the firm’s Senior Partner, Dan Agbor and Partners Yinka EduNicholas Okafor, with support from Kunle Durosinmi-Etti (senior associate) as well as Marcus Ovie OjaruegaChinomso Odega, Bolaji Odekunle, Supreme UnukegwoAkintayo Oluwatobi (associates).