EnQuest PLC (ENQ)
EnQuest PLC proposes to offer senior notes
London, March 2014 - EnQuest PLC ("EnQuest" or the "Company") today announces
that it intends to offer $500 million in aggregate principal amount of senior
unsecured notes due 2022 (the "Notes"). The Notes, the net proceeds of which
will be used for general corporate purposes, will be senior obligations of the
Company and will rank pari passu with all present and future senior unsecured
indebtedness of the Company. The guarantees of the Notes by certain subsidiaries
of the Company will be subordinated to the obligations of the Guarantors under
the Company's senior secured revolving credit facility.
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This announcement does not constitute an offer to sell or the solicitation of an
offer to buy the Notes or any other security and shall not constitute an offer,
solicitation or sale in the United States or in any jurisdiction in which, or to
any persons to whom, such offering, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any jurisdiction.
The Notes and the related guarantees have not been, and will not be, registered
under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act.
This announcement may include projections and other "forward-looking" statements
within the meaning of applicable securities laws. Any such projections or
statements reflect the current views of the Company about future events and
financial performance. The use of any of the words "expect," "anticipate,"
"continue," "will," "project," "should," "believe," "plans," "intends" and
similar expressions are intended to identify forward-looking information or
statements. Although the Company believes that the expectations and assumptions
on which such forward-looking statements and information are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because the Company can give no assurance that such statements and information
will prove to be correct. Since forward-looking statements and information
address future events and conditions, by their very nature they involve inherent
risks and uncertainties.
The forward-looking statements and information contained in this announcement
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
Within the United Kingdom, this announcement is directed only at persons having
professional experience in matters relating to investments who fall within the
definition of "investment professionals" in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 ("relevant
persons"). The investment or investment activity to which this announcement
relates is only available to and will only be engaged in with relevant persons
and person who receive this announcement who are not relevant persons should not
rely or act upon it.
This press release shall not be considered an "offer of securities to the
public" for purposes of the Luxembourg law on prospectus for public offering
dated 10 July 2005 or give rise to or require the publication of a prospectus in
any EU member state which has implemented Directive 2003/71/EC (together with
any applicable implementing measures, including Directive 2010/73/EC, in any
For further information please contact:
Tel: +44 (0)20 7925 4900
Amjad Bseisu (Chief Executive)
Jonathan Swinney (Chief Financial Officer)
Michael Waring (Head of Communications & Investor
Tel: +44 (0)20 7353 4200