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EnQuest to make Feb. 15 interest payment on PIK toggle notes in kind
New York, Jan. 29 – EnQuest plc will make the upcoming interest payment on its £166,039,873 of 7% extendable PIK toggle notes due 2022 in kind instead of in cash, according to a filing with the London Stock Exchange.
The payment will be made through the issuance of additional notes because the cash payment condition for the interest payment due on Feb. 15 has not been satisfied.
The PIK interest payment will total £5,811,396, increasing the principal amount of the notes to £171,851,269.
EnQuest is a London-based petroleum exploration and production company.
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