(as at 30 June 2020)
|Maturity||Annual Interest %||Comments|
Credit Facility (USD)1
Commitments split into a term facility of $1.125 billion and a revolving facility of $75 million (together the 'credit facility')
USD LIBOR +4.75%
In 2016, EnQuest completed a loan restructuring and entered into an amended and restated credit agreement.
High yield bond
|Oct-23 (see comments)||7.00% payable semi-annually in arrears|
In 2013, the Group issued a £155 million retail bond and in 2014, the Group issued a $650 million high yield bond.
In 2016, both the retail bond and the high yield bond were amended pursuant to a scheme of arrangement whereby all existing notes were exchanged for new notes.
Sculptor Capital facility
|c.$91 million||Sep-23||One-month USD LIBOR +6.30%|
In 2018 the Group entered into a $175.0 million financing facility with Sculptor Capital LP.
|Sullom Voe Terminal ‘SVT’ working capital facility (GBP)||c.$11 million||Dec-20||GBP LIBOR +1.00%|
In 2017, EnQuest NNS Limited entered into a $42.0 million revolving loan facility with a joint operator partner to fund the short-term working capital cash requirements on the acquisition of SVT and other interests.
1 At 30 June 2020, after allowing for letter of credit utilisation of $2.8 million, $86.1 million remained available for drawdown under the credit facility
This information has been prepared by Company in order to provide general, high-level summary information in respect of the Company’s financing arrangements to investors. Whilst it has been prepared on the basis of good faith, no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information in this presentation and no responsibility or liability is or will be accepted by EnQuest PLC or any of its respective subsidiaries, affiliates and associated companies (or by any of their respective officers, employees or agents) in relation to it. None of the Company or any of its subsidiary undertakings or any of such person's respective directors, officers, employees, agents, affiliates or advisers, undertakes any obligation to amend, correct or update this information or to provide the recipient with access to any additional information that may arise in connection with it.