Accugas arranges $445 million senior debt facility

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Accugas arranges $445 million senior debt facility

Seven Energy International Limited has entered into a senior debt facility totalling up to US$445 million for Seven Energy’s indirect wholly-owned subsidiary, Accugas Limited.

The facility, arranged by FBN Capital and FCMB Capital Markets, will be used to refinance Accugas’ existing project-finance and acquisition-finance senior debt facilities as well as to support additional medium-term capital requirements.

Seven Energy International Limited has been advised by Linklaters, a multinational law firm headquartered in London.

Accugas, a wholly owned subsidiary of Seven Energy, is a gas processing, marketing and distribution company focused on commercialisation, for the domestic Nigerian markets, of the substantial discovered but undeveloped gas resources onshore in the Niger Delta.

Seven Energy International Limited is an integrated oil and gas development, production, and gas distribution company in Nigeria. It has a portfolio of onshore oil and gas interests with a reserves and resources base in the Niger Delta, as well as an undeveloped asset in the Anambra Basin; and a midstream business that focuses on the sale and marketing, processing, and distribution of gas to the domestic Nigerian market.

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