Seven Energy International Has Secured US$100M in Financing From Investors (Sub-Saharan Africa)
Source: Seven Energy International
Nigeria-based integrated gas company Seven Energy International has secured US$100 million in financing from investors. Singaporean sovereign wealth fund Temasek, emerging markets-focused private equity firm Capital International Private Equity, multinational banking and financial services company Standard Chartered, development finance institution International Finance Corporation (IFC) and IFC subsidiary IFC Asset Management Company (IFC AMC) invested US$50 million by way of an open offer. Bahrain-based fund management firm ASMA Capital Partners and other institutional investors invested the remaining US$50 million. IFC AMC structured its contribution through IFC African, Latin American and Caribbean Fund, while ASMA structured its investment through IDB Infrastructure Fund II. Seven Energy is working to complete a gas pipeline project in Nigeria.