Ogier in both the British Virgin Islands and Jersey has advised Seven Energy International Limited and its group on an issue of USD300m aggregate principal amount 10 per cent senior secured notes due 2021.
The notes, which are listed on the Irish Stock Exchange's Global Exchange Market, were issued by Seven Energy's subsidiary Seven Energy Finance Limited and are guaranteed by other subsidiaries of Seven Energy.
Seven Energy is an indigenous African oil and gas exploration, development and production company with a focus on supplying gas to the domestic market. In the six months ended 30 June 2014, Seven Energy generated revenues of USD165.4 million. Seven Energy's business began in 2004 as a division of Weatherford International, the New York Stock Exchange listed oil services company. The division was sold by Weatherford International in 2007 and merged with Nigeria's Exoro Energy to establish an independent company. Since then, Seven Energy has grown both organically and through strategic acquisitions. Today, Seven Energy's equity holders include a number of blue-chip international institutional and strategic equity investors.
Ogier BVI acted with the London office of US firm Latham & Watkins as legal counsel to Seven Energy Finance Limited. Ogier's Jersey office advised on matters of Jersey law as applicable to the transaction.
