FBN Holdings and Ecobank Nigeria Limited have provided $170 million to Seven Energy International Limited towards the energy group’s acquisition of the gas assets and entire issued share capital of the East Horizon Gas Company (EHGC) Limited.
The multi-party financing deal will provide Seven Energy’s wholly-owned subsidiary-Accugas Limited, with part of the funds to complete its $250 million acquisition of the entire issued share capital of the East Horizon Gas Company.
FBN Holdings participated in the financing deal through its subsidiaries-FBN Bank (UK) Limited and FBN Capital Limited. The $170 million medium-term acquisition finance facility were being financed by FBN Bank (UK) Limited and Ecobank Nigeria Limited.
FBN Capital Limited acted as structuring bank, sole initial mandated lead arranger, financial modelling bank and global facility coordinator. Aluko& Oyebode acted as lenders legal counsel, Royal HaskoningDHV Nederland BV represented the lenders on environmental and technical due diligence matters while UUBO and Addleshaw Goddard acted as the borrower’s local and international legal counsels respectively.
Source: The Nation
