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EnQuest PLC - oil and gas company with operations in the UK and Malaysia - Reports that it has signed new reserves-based lending facilities totalling $800 million. They consist of a $400 million secured revolving loan facility and a secured revolving letter of credit facility of the same size. Both facilities have an accordion option to up the loans by $400 million each. ‘The new facilities will be used to refinance the group’s existing $500 million RBL facility, which included a $75 million LoC sublimit, and was due to mature in April 2027. EnQuest is delighted to be supported in this refinancing by a syndicate of eight leading international banks, which includes long-standing existing lenders and high-quality new relationships,’ EnQuest says.
Current stock price: 11.54 pence, up 2.7% on Monday in London
12-month change: down 4.5%
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