Pricing of new bond issue
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EnQuest PLC ('EnQuest' or the 'Company') is pleased to announce the pricing of its offering of $160.0 million aggregate principal amount of 11⅝% senior notes due 2027 (the "New Notes") due for settlement on 2 October 2024, at an issue price of 101.000%. The New Notes are being offered as additional notes under the indenture dated 25 October 2022 pursuant to which the Issuer previously issued $305,000,000 million in aggregate principal amount of its senior unsecured fixed rate notes due 2027 (the "Original Notes"). It is intended that the New Notes will be fungible and form a single series with the Original Notes following the termination of certain temporary U.S. selling restrictions.
The Company expects to use the proceeds of the New Notes offering to repay and cancel all amounts outstanding under its U.S. Dollar second lien term loan facility and for general corporate purposes, including payment of costs and expenses related to the transaction.
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