Seven Energy International Limited and its wholly-owned subsidiary, Accugas Limited, has closed a $170m 5.5-year medium-term acquisition finance facility with FBN Bank (United Kingdom) Limited and Ecobank Nigeria Limited.

A statement by the bank said FBN Capital Limited acted as the structuring bank, sole initial mandated lead arranger, financial modelling bank and global facility coordinator.

Aluko & Oyebode acted as lenders legal counsel, while Royal Haskoning DHV Nederland BV represented the lenders on environmental/ technical due diligence matters, the statement said.

It further stated that UUBO and Addleshaw Goddard acted as the borrower’s local and international legal counsels respectively.

The facility, according to the statement, part-finances the acquisition of the entire issued share capital of East Horizon Gas Company Limited for a total of $250m.

Source: Punch