Does anyone own Premier Oil 5% 2018 retail bonds and can help explain to me the refinancing terms so that I can understand as i'm struggling to know what to do?

Holders are being offered either:

Equity Warrants - Holders will be entitled to subscribe for Warrant Shares at the Exercise Price (£42.75). The warrants are expected to expire 31 May 2022.

Synthetic Warrants - Holders will be entitled to receive a pro rata share of a fee calculated by reference to the change in value of the Issuer’s market capitalisation.

Currently I hold the bonds in an ISA and my broker is not able to explain to full details of the corporate action. Will the chosen warrants still be held in an ISA and will I be able to trade them?

Blimey this is complex!

All help will be very much appreciated!



Unlock the rest of this article with a 14 day trial

Already have an account?
Login here