Seven Energy, FBN Capital, FBN Bank (UK), Ecobank seal $170m Financial Deal

In what is a major milestone towards expanding its gas infrastructure assets in the country, particularly to ramp up gas supply to power plants, Seven Energy International Limited and its wholly-owned subsidiary, Accugas Limited, have closed a $170 million 5.5-year medium-term acquisition facility deal with FBN Bank (UK) Limited and Ecobank Nigeria Limited.

The facility, which part-finances the acquisition of the entire issued share capital of East Horizon Gas Company Limited (EHGC) for a total consideration of up to $250 million.