EnQuest mulls sterling-denominated tap issue, exchange offer as part of deleveraging strategy

By Paul A. Harris

Portland, Ore., June 6 – At its annual general meeting on Monday, management of EnQuest plc told shareholders that it plans to engage with sterling fixed income investors regarding a tap issue and exchange offer related to its retail bonds, pending market conditions.

Those transactions are part of a financial policy that is focused on a strong balance sheet and ongoing deleveraging strategy, the company stated.

EnQuest is a London-based independent petroleum exploration and production company.

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