Nigeria-focused Seven Energy sets talk at mid-9% area for $500 million seven-year notes

By Christine Van Dusen

Atlanta, July 27 – Nigeria-focused Seven Energy set talk in the mid-9% area for its offering of $500 million seven-year notes (/B-/B-), a market source said.

Deutsche Bank, Morgan Stanley and Standard Chartered Bank are the bookrunners for the Rule 144A and Regulation S deal.

The notes will be non-callable for three years and will include a change-of-control put at 101%.

The proceeds will be used to redeem convertible bonds, to refinance existing debt and for general corporate purposes.

The energy company is based in Lagos and London.

© 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.