Seplat Petroleum Development Company Plc said it has listed its $350 million senior notes for trading on the International Securities Market of the London Exchange. Issued earlier this year, the 9.25 per cent senior notes were previously listed on the Euro MTF market of the Luxembourg Stock Exchange due in 2023. In a statement sent to the Nigerian Stock Exchange (NSE), the company said that the offered securities are not for sale in the United States of America. This is because the securities are not registered under the US Securities Act of 1933. The company further said it does not intend to register any part of the security in the North American country, neither does it plan to conduct an initial offering there, saying that the offered notes are not for sale to the Nigerian public either.

According to the statement, this announcement is not an offering circular or an invitation to the public to acquire or dispose of any securities of the company pursuant to the Nigerian Investments and Securities Act, no. 29 of 2007 and the rules and regulations of the Nigerian SEC, 2013, as amended “The securities have not been registered under the ISA and may not be offered or sold within Nigeria to, or for the account or benefit of, persons resident in Nigeria, except to the extent that the relevant offering memorandum and the securities have been registered with the Nigerian SEC and its written approval obtained in accordance with the provisions of the ISA and the Nigerian SEC rules,” the statement read further. The company also disclosed that the offer is meant for investors located outside the United States of America, member states of the European Economic Area, the United Kingdom who are qualified investors and qualified institution buyers. Seplat Petroleum Development Company Plc is an oil exploration company which is listed on both the Nigerian Stock Exchange and the London Stock Exchange.