Pricing of new bond issue
EnQuest prices $675m bond due 2031 at 9.875% to refinance existing debt and enhance liquidity.
- New bond issue $675m
- Coupon rate 9.875%
- Maturity 2031
- Issue price 99.038%
- 11.625% Senior Notes to redeem $465.0m due 2027
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NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
EnQuest PLC, 22 April 2026
PRICING OF NEW BOND ISSUE
EnQuest PLC ("EnQuest" or the "Company") is pleased to announce that it has priced its offering of an aggregate principal amount of $675 million 9.875% senior notes due 2031 (the "Notes") at 99.038%, with interest payable semi-annually. The closing of the offering is subject to customary conditions precedent for similar transactions. The Notes will be senior obligations of the Company and will be guaranteed by certain of the Company's subsidiaries.
The gross proceeds from the offering of the Notes will be used (i) to redeem in full the Company's $465.0 million aggregate principal amount of 11⅝% Senior Notes Due 2027, (ii) to further enhance liquidity via cash on balance sheet for general corporate purposes, which may be used to repay or refinance existing indebtedness (including but not limited to the Company's £133.3 million 9% Retail Notes due 2027), and (iii) for payment of fees, costs, discounts and expenses in connection with the offering.
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