Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,993,813 members, 7,294,675 topics. Date: Tuesday, 07 February 2023 at 06:56 PM

Seven Energy In Trouble Over $445 Million Loan Default - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Seven Energy In Trouble Over $445 Million Loan Default (1817 Views)

Loan App Send A Fraud Message To My Hr Over Loan Default. Any Implication? / Court Seals Shoprite In Umuahia Over Loan Default (photos) / Ahmed Kuru In Trouble Over Keystone Bank Acquisition By Father-in-law-TheCapital (2) (3) (4)

(1) (Reply)

Seven Energy In Trouble Over $445 Million Loan Default by Trending01: 5:18am On Oct 14, 2017
Indigenous oil and gas operator, Seven Energy International Limited, may be for a rough time following its inability to fulfill payments on two senior secured notes issued by one of its subsidiaries Seven Energy Finance Limited.

The company blamed its inability to meet its debt obligations on the closure of the Forcados export terminal which lead to a loss of cash flow, and power stations that were yet to pay for gas it had supplied.

We gathered that the company had earlier in the year defaulted on a $445 million loan taken from a consortium of banks led by Ecobank, FCMB, and Union Bank in 2015 to provide working capital for Accugas, one of its subsidiaries.

READ MORE HERE: http://witnessngr.com/seven-energy-in-trouble-over-445-million-loan-default/

Re: Seven Energy In Trouble Over $445 Million Loan Default by neolboy(m): 5:25am On Oct 14, 2017
ok

(1) (Reply)

Is Bet9ja Back For Good After Hack | Website Back / All HYIP Are Scams. Nothing More Nothing Less. / EXCLUSIVE: OLX Nigeria Reacts To Missing 3 Oyekoya Kids

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2023 Oluwaseun Osewa. All rights reserved. See How To Advertise. 29
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.