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EnQuest to make Aug. 15 interest payment on PIK toggle notes in kind
By Angela McDaniels
Tacoma, Wash., July 31 – EnQuest plc will make the next interest payment on its £160,424,998 7% extendable PIK toggle notes due 2022 in kind instead of in cash, according to a filing with the London Stock Exchange.
The cash payment condition for the interest payment date falling on Aug. 15 has not been satisfied.
The PIK interest payment will total £5,614,875, increasing the outstanding principal amount of the notes to £166,039,873.
EnQuest is a London-based petroleum exploration and production company.
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