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EnQuest to make February payment on PIK toggle notes in kind
New York, Jan. 30 – EnQuest plc said it will make the Feb. 15 interest payment on its £155 million of 7% extendable PIK toggle notes due 2022 in kind.
The cash payment condition for the notes has not been met, according to a notice from the company.
To satisfy the interest payment, EnQuest will issue an additional £5,425,000 of notes, raising the principal amount to £160,425,000.
EnQuest is a London-based petroleum exploration and production company.
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