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EnQuest sets meeting on Oct. 17 for £155 million 5½% notes due 2022
By Susanna Moon
Chicago, Sept. 22 – EnQuest plc said it is asking holders to approve a measure under its £155 million 5½% notes due Feb. 15, 2022.
The company is asking holders to approve the subordinated upstream guarantees by the company’s subsidiaries for the company’s obligations under the retail notes, according to a company notice.
A meeting will be held for retail noteholders in London on Oct. 17.
The proposal would allow the retail noteholders to benefit from subordinated upstream guarantees on substantially the same terms as provided by the same subsidiaries in favor of the holders of the company’s $650 million 7% senior notes due 2022 as was expected in the offering memorandum for the senior notes, the company said.
EnQuest is a London-based petroleum exploration and production company.
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