REG - EnQuest PLC - Pricing of new bond issue

EnquestAnnouncement

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RNS Number : 3906B  EnQuest PLC  22 April 2026

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.

For further information, please contact:

EnQuest PLC

Tel: +44 (0)20 7925 4900

Jonathan Copus (Chief Financial Officer)

Craig Baxter (Head of Investor Relations and Corporate
Affairs)

 

Cautionary Statements

This press release is for information purposes only and does not constitute a
prospectus or any offer to sell or the solicitation of an offer to buy any
security in the United States of America or in any other jurisdiction. This
press release also does not constitute an offer to purchase or the
solicitation of an offer to purchase any security in the United States of
America or any other jurisdiction. This announcement is not for public
release, publication or distribution, directly or indirectly, in or into the
United States (including its territories and possessions, any state of the
United States and the District of Columbia), except to "qualified
institutional buyers" ("QIBs") as defined in Rule 144A under the U.S.
Securities Act of 1933, as amended (the "Securities Act"). This announcement
does not constitute or form a part of any offer of, or solicitation to
purchase or subscribe for, any securities in the United States. Any such
securities have not been, and will not be, registered under the Securities
Act. Any such securities may not be offered or sold in the United States,
except that the securities may be offered for sale in the United States to
QIBs in reliance on the exemption from registration under Rule 144A. No public
offering of  securities will be made in the United States or in any other
jurisdiction where such an offering is restricted or prohibited.

This announcement is directed only at persons (i) outside the United Kingdom;
(ii) that have professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); (iii) falling within Article
49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.")
of the Order or (iv) to whom this announcement may otherwise be directed
without contravention of Section 21 of the Financial Services and Markets Act
2000 (all such persons together being referred to as "relevant persons"). This
announcement must not be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this announcement
relates is available only to relevant persons and will be engaged in only with
relevant persons.

In member states of the European Economic Area ("EEA"), this announcement is
directed only at persons who are "qualified investors" under Regulation (EU)
2017/1129, as amended. In the United Kingdom, this announcement is directed
only at persons who are a "qualified investor" as defined in paragraph 15 of
Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024.

No EEA PRIIPs KID or UK PRIIPs KID/CCI product summary. No PRIIPs key
information document (KID) or disclosure document required by the Financial
Conduct Authority Product Disclosure Sourcebook has been prepared as not
available to retail in the EEA or the United Kingdom.

MiFID II and UK MiFIR ‑ professionals/ECPs‑only - Manufacturer target
market (MIFID II and UK MiFIR product governance) is eligible counterparties
and professional clients only (all distribution channels).

This press release may include projections and other "forward-looking"
statements within the meaning of applicable securities laws. Any such
projections or statements reflect the current views of the Company about
further events and financial performance. No assurances can be given that such
events or performance will occur as projected and actual results may differ
materially from these projections.

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement. The distribution of this announcement into certain jurisdictions
may be restricted by law. Persons into whose possession this announcement
comes should inform themselves about and observe any such restrictions. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.

 

 

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