IN BRIEF: EnQuest in USD800 million worth of new lending facilities
EnQuest PLC - oil and gas company with operations in the UK and Malaysia - Reports that it has signed new reserves-based lending facilities totalling USD800 million. They consist of a USD400 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 USD400 million each. "The new facilities will be used to refinance the group's existing USD500 million RBL facility, which included a USD75 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. Read More