Seven Energy Secures Debt Facilities

Tuesday, June 30, 2015

Seven Energy International and certain of its wholly-owned subsidiaries have entered into two separate debt facilities, each with a sole lender, both of whom are prominent European institutions, for a combined $52 million, with up to a six-year tenor.

These facilities will rank pari passu for security with, and have substantially the same covenants as, the Senior Secured Loan Notes issued in October 2014.

The facilities will be used to fund the group’s ongoing development projects and working capital requirements.

In Equatorial Guinea the Ministry of Mines, Industry and Energy, in an attempt to streamline its operations, announced new government appointments and mergers of key internal departments.

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