IFC invests $50M in Nigeria's Seven Energy debt issuance

The International Finance Corp. bought almost 13 percent of the debt sold by Seven Energy International Ltd., a Nigerian oil and gas company, with some proceeds earmarked for a pipeline in Africa’s biggest economy.

Seven Energy raised $400 million in bonds, of which the IFC bought $50 million, the Washington-based lending unit of the World Bank said in an e-mailed statement. This month’s sale of 2021 debt included $300 million senior secured notes and the remainder were private bonds, according to a statement from Standard & Poor’s yesterday.

Read more: IFC Invests $50 Million in Nigeria’s Seven Energy Debt Issuance – Bloomberg.