News

11th Feb

EnQuest Strikes a £145m Bond Success

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. 

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