5 yr: First Pay: 2023-05-01; Redemption: 2024-11-01; Registration: 144A/Reg S; Comments: US$305m (upsized from US$300m) 11.625% cpn 5yr(11/1/27) at 98.611 , ytm 12%. MWC T+50bp. Equity Clawback: up to 40% at 111.625% prior to November 1, 2024. Call Schedule: Non Callable Until Nov 1, 2024, then Callable on Nov 1, 2024 105.8125, Nov 1, 2025 102.9062 , Nov 1, 2026 and thereafter at 100.00. MWC: T+50bps. CoC: 101%. LEI: 2138008LJU6WFQWOXJ73;
Deal Comments
Guarantors: EnQuest Heather Ltd, EnQuest NWO Ltd, EnQuest Britain Ltd, EnQuest ENS Tld, EnQuest Global Ltd, EnQuest Heather Leasing Ltd, EQ Petroleum Sabah Ltd, EnQuest Production Ltd, EnQuest Advance Ltd, EnQuest Petroleum Production Malaysia Ltd, North Sea (Golden Eagle) Resources Ltd, NSIP (GKA) Ltd, EnQuest Marketing and Trading Ltd, EnQuest Petroleum Developments Malaysia Sdn Bhd, EnQuest Petroleum Developments Malaysia Sdn Bhd