EnQuest raises 145m pounds through bond issue

North Sea oil operator EnQuest has raised 145m pounds from issuing a 10-year bond with a 5.5 per cent yield.

North Sea oil operator EnQuest has raised 145m pounds from issuing a 10-year bond with a 5.5 per cent yield.

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 [Order Book for Retail Bonds] 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 down 0.23% to 132.40p at 08:21 on Monday.

MF

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