Vivo Energy to repay term debt with note proceeds, revolver borrowings

By Sarah Lizee

Olympia, Wash., May 30 – Vivo Energy plc plans to repay all amounts outstanding under its term facilities using proceeds from a new note offering, borrowings under its $400 million-equivalent multicurrency revolving credit facility and cash on hand.

The company’s subsidiary, Vivo Energy Investments BV, plans to price $400 million of senior notes due 2023 or 2025, according to a company announcement.

Vivo plans to fully repay its amortizing term facility with an outstanding principal equivalent amount equal to the total of $157.5 million and €139,749,072.30, as well as a $160 million incremental term facility.

Proceeds from the offering will also be used to pay related fees and expenses and to finance the expected cash consideration of the proposed acquisition of Engen International Holdings (Mauritius) Ltd.

Vivo Energy is an Africa-focused Shell licensee, operating 1,800 service stations in 15 countries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.