MON 19 JULY, 2021-theGBJournal- Westport Oil Limited, wholly owned subsidiary of Seplat Energy Plc (Seplat) has successfully raised a US$50 million offtake linked reserved based lending facility due April 2027.
Seplat, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange announcing the deal Monday said, the Offtake Facility is subordinated to the US$110 million senior reserve based lending facility.
The Offtake Facility carries initial interest of Libor + 10.5% payable semi-annually and is scheduled to commence repayment from March 2023.
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