North Sea oil operator
EnQuest revealed that it raised
£145m from issuing a 10-year bond when it
issued its Final Terms Confirmation Announcement on Monday 11th
February.
The
bond is due in 2022 with a yield of 5.5% and Retail Bond Expert understands
that this represents a performance at the upper end of expectations.
The company issued £145m in total principal amount of the bonds. The estimated
net proceeds of the offer were valued at £143.5m whilst the expenses relating
to the admission of trading of the bonds was valued at £1.5m.
Amjad Bseisu, Chief Executive Officer of EnQuest, commented: "We are
delighted with the success of our retail bond, the first such bond on ORB
issued by an oil company. The bond has received a strong response from
investors and the issue allows us to extend the tenor of our borrowings and
will complement our already strong balance sheet."
EnQuest's share price was up 1.06% to 134.10p at 10.38 on Monday.