Standard Chartered Bank, alongside three other banks, acted as Global Coordinator on Seplat’s $650m 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”
For more information, please contact:
Head, Corporate Affairs, Brand and Marketing
Standard Chartered Bank Nigeria Limited
+234 802 931 4012
About Standard Chartered
We are a leading international banking group, with a presence in more than 60 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.