Publication of Prospectus & Launch of Sterling Denominated 9.00% Guaranteed

Source: www.gulfoilandgas.com 3/30/2022, Location: Europe

EnQuest PLC (the “Company”), a holding company involved in a full range of upstream activities, with a portfolio of production and development assets, announces today a proposed issue of Sterling denominated 9.00% Fixed Rate Notes due 27 October 2027 to be issued by the Company (the “Notes”) and guaranteed on a joint and several, subordinated basis by EnQuest Britain Limited, EnQuest ENS Limited, EnQuest Global Limited, EnQuest Heather Limited, EnQuest Heather Leasing Limited, EnQuest NWO Limited, EnQuest Production Limited, EnQuest Petroleum Production Malaysia Ltd, NSIP (GKA) Limited, EnQuest Marketing and Trading Limited, EnQuest Petroleum Developments Malaysia Sdn Bhd, EnQuest Advance Limited, EnQuest Advance Holdings Limited, EQ Petroleum Sabah Limited and North Sea (Golden Eagle) Resources Ltd (the “Guarantors”), pursuant to an exchange offer memorandum and prospectus dated 29 March 2022 (the “Exchange Offer Memorandum and Prospectus”). The Notes are available to retail investors in the United Kingdom, the Bailiwick of Guernsey, the Isle of Man and Jersey, and are being issued by the Company for general corporate purposes.

The Notes will bear interest at a fixed rate of 9.00% per annum, payable semi-annually in arrear in two equal instalments of £0.045 per £1 in principal amount of the Notes on 27 April and 27 October in each year, with the first such payment being made on 27 October 2022, and are expected to be redeemed (subject to the Company’s right to redeem the Notes prior to maturity in accordance with their terms and conditions) at 100% of their principal value on the maturity date, which is expected to fall on 27 October 2027.

Peel Hunt LLP and WH Ireland Limited are acting as Joint Lead Managers in respect of the offering of the Notes.

The initial authorised offeror is Hargreaves Lansdown Asset Management Limited.

The Notes have a minimum subscription amount of £2,000 and are available in multiples of £1 thereafter.

The offer period is now open and is expected to close at 4.00 p.m. (London time) on 20 April 2022. The Company retains the right to close the offer early, in conjunction with the Joint Lead Managers. The Notes are due to be issued on 27 April 2022.

The Notes are expected to be listed on the Financial Conduct Authority's Official List and admitted to trading on the London Stock Exchange's main market and through the electronic Order Book for Retail Bonds (ORB) market. Holders of Notes should, in most normal circumstances, be able to sell their holdings during normal trading hours (subject to market conditions) on the open market through their stockbroker.


United Kingdom >>  8/9/2022 - AIM-listed Union Jack Oil, a UK focused onshore hydrocarbon production, development and exploration company, has announced a further update on the red...
Canada >>  8/8/2022 - International Petroleum Corporation (IPC or the Corporation) (TSX, IPCO) is pleased to announce that IPC repurchased a total of 144,000 IPC common sha...

Norway >>  8/8/2022 - The below information is released to provide Magseis Fairfield shareholders updated financial information in connection with the announced voluntary e...
United States >>  8/8/2022 - Invinity Energy Systems plc (IES), a leading global manufacturer of utility-grade energy storage , is pleased to announce the commencement of U.S. tra...

United States >>  8/8/2022 - Diversified Energy Company PLC (LSE: DEC) is pleased to announce its Interim Results for the six months ended 30 June 2022 and other recent highligh...
United States >>  8/8/2022 - Prospera Energy Inc. ("Prospera") (FRA) is pleased to release its Q1 2022 financial and operating results. Selected financial and operational informat...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.