EnQuest to make April payment on PIK toggle notes in kind

New York, March 31 – EnQuest plc said it will make the April 15 interest payment on its $982,413,617 of 7% extendable PIK toggle notes due 2022 in kind.

The cash payment condition for the notes has not been met, according to a notice from the company.

To satisfy the interest payment, EnQuest will issue an additional $18,969,496 of notes.

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

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