EnQuest PLC Maturity date extension: High Yield & Retail Notes (1892C)
October 15 2020 - 4:19AM
UK Regulatory
TIDMENQ
RNS Number : 1892C
EnQuest PLC
15 October 2020
ENQUEST PLC
15 October 2020
Automatic extension of maturity date of EnQuest's High Yield
Notes and Retail Notes
EnQuest PLC ("EnQuest") today confirms the automatic extension
of the maturity date of its 7.00 per cent. Extendable PIK Toggle
Notes originally due 2022 (the "Retail Notes") and the anticipated
automatic extension of the maturity date of its 7.00 per cent. PIK
Toggle Senior Notes originally due 2022 (the "High Yield
Notes").
Under the existing terms of the Retail Notes, the maturity date
is automatically extended to 15 October 2023 (from 15 April 2022)
if EnQuest's senior credit facility is not repaid or refinanced in
full by 15 October 2020. Similarly, under the existing terms of the
High Yield Notes, the maturity date is automatically extended to 15
October 2023 (from 15 April 2022) if the senior credit facility is
not repaid or refinanced by 30 October 2020.
As previously announced, EnQuest reduced its senior credit
facility by $325 million during the financial year ended 31
December 2019 and made a further accelerated voluntary repayment of
$35 million in January 2020; no senior credit facility
amortisations are due in 2020. At the end of September, the Group's
outstanding senior credit facility remained at $425.0 million,
excluding payment in kind interest.
Further information:
For further information, please visit the Company's Investor
Relations website at www.enquest.com/investors or contact:
Investor Relations
EnQuest PLC
Fifth Floor, Cunard House
15 Regent Street
London SW1Y 4LR
United Kingdom
Tel: +44 (0)20 7925 4900
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END
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