EnQuest gets votes to amend 5½% notes due 2022 at Wednesday meeting

By Susanna Moon

Chicago, Nov. 6 – EnQuest plc said holders voted to pass the measure for its £155 million 5½% notes due Feb. 15, 2022 at the meeting held Wednesday.

As previously reported, a new meeting had been scheduled for Nov. 5 in London after the meeting on Oct. 17 was adjourned because of failure to obtain quorum.

The company asked holders to approve the subordinated upstream guarantees by the company’s subsidiaries for the company’s obligations under the retail notes.

The proposal allows 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 previously said.

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

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