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EnQuest PLC - oil and gas production in UK North Sea and Malaysia - Refinances its existing $792.3 million senior notes due 2030. Prices new $305.0 million of 11 5/8% senior notes due 2027 at an issue price of 98.6%, also agrees amended reserve-based lending facility of $500.0 milllion, with a $300.0 million accordion. Says this will position it well to continue to deliver its strategy. EnQuest plans to repay its existing $792.3 million senior notes due 2023, funded by the proceeds of the new notes, $400.0 million of drawings under its RBL facility and existing cash.
Also, Double A Ltd, a company beneficially owned by the extended family of Amjad Bseisu, has agreed to lend $15.0 million.
Current stock price: 28.78 pence
12-month change: up 20%
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