Chicago, April 21 – EnQuest plc is issuing £133.3 million of 9% notes due 2027, according to an announcement.
The size of the issue consists of £54,022,115 as new subscriptions via a retail offer and £79,277,885 that was part of an exchange the company was running for PIK toggle notes due 2023. The two parts are jointly forming a single series.
The proposed notes will be guaranteed on a joint and several, subordinated basis by EnQuest Britain Ltd., EnQuest ENS Ltd., EnQuest Global Ltd., EnQuest Heather Ltd., EnQuest Heather Leasing Ltd., EnQuest NWO Ltd., EnQuest Production Ltd., EnQuest Petroleum Production Malaysia Ltd., NSIP (GKA) Ltd., EnQuest Marketing and Trading Ltd., EnQuest Petroleum Developments Malaysia Sdn. Bhd., EnQuest Advance Ltd., EnQuest Advance Holdings Ltd., EQ Petroleum Sabah Ltd. and North Sea (Golden Eagle) Resources Ltd.
The notes will be callable prior to maturity.
Peel Hunt LLP and WH Ireland Ltd. were listed as joint lead managers for the offering with Hargreaves Lansdown Asset Management Ltd. as the initial authorized offeror.
The notes are expected to be listed on the London Stock Exchange.
Proceeds will be used for general corporate purposes.
The issuer is a London-based petroleum exploration and production company.
| Issuer: | EnQuest plc
|
| Amount: | £133.3 million
|
| Issue: | Guaranteed notes
|
| Maturity: | Oct. 27, 2027
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| Bookrunners: | Peel Hunt LLP and WH Ireland Ltd.
|
| Coupon: | 9%
|
| Call features: | Callable
|
| Settlement date: | April 27
|
| Distribution: | Retail, exchange
|
| ISIN: | XS2461853793
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