London Stock Exchange welcomes EnQuest PLC to ORB

London Stock Exchange welcomes EnQuest PLC to ORB

Wednesday 13th February 2013

London Stock Exchange welcomes EnQuest PLC, a FTSE250 company focused on realising the potential in mature assets and in undeveloped oil fields, to its Order Book for Retail Bonds, with the launch of its 5.5% 2022 debut retail bond, which raised £145 million.

EnQuest is the largest UK independent oil producer in the UK North Sea and was established through combining the UK North Sea assets and operations of Lundin Petroleum AB and Petrofac Limited. Its bond was the first issue by an oil producer, providing retail bond investors with the opportunity to diversify their holdings.

EnQuest Chief Executive, Amjad Bseisu, commented:

"We are delighted with the success of our retail bond which received a strong response from investors.  The issue allows us to extend the tenor of our borrowings and will complement our already strong balance sheet.”

Michael Dyson, Head of Fixed Income Products at Numis Securities, said:

“Numis were pleased to work with EnQuest in bringing this issue to the ORB. As the first bond issued on ORB by an oil producer, and one of the largest bonds issued to date, this bond marks an important step forward for the market.”