EnQuest signs $900m financing for future acquisitions

27 Mar 2012

UK oil and gas firm EnQuest has signed a new multicurrency credit facility of up to $900m, with $525m committed and a further $375m made available to the borrower, to be used primarily for acquisitions. The revolver has a maturity of five years.

Seven banks committed to the line, which replaces a $280m revolver that matured in the first quarter of the year. That outstanding loan was provided by BNP Paribas and Lloyds Banking Group.

In 2011, EnQuest purchased 45% of the Kraken field in the UK North Sea. It paid ...

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