|Go to market news section|
25 November 2013
The information contained herein may only be released, published or distributed in the United Kingdom, Jersey, Guernsey and the Isle of Man. Neither this announcement nor any copy of it may be taken or transmitted into the United States, Australia, Canada, Japan or the Republic of Ireland or to a resident, national or citizen of the United States, Australia, Canada, Japan or the Republic of Ireland. The Bonds may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958 and the Financial Services (Jersey) Law 1998.
PREMIER OIL PLC LAUNCHES 5% STERLING BOND DUE 2020
Premier, the FTSE250 international oil and gas exploration and production company, has today launched an offer of 5% Sterling Bonds due 2020 (the "Bonds"), available to wholesale and retail investors.
The Bonds will pay a fixed rate of interest of 5% per annum, payable twice yearly on 11 June and 11 December of each year with the first coupon payment being made on 11 June 2014 and the Bonds maturing on 11 December 2020. The Bonds will be guaranteed by certain operating subsidiaries of Premier.
At any time during the life of the Bond, investors are permitted to sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker.
Barclays, Canaccord Genuity and Lloyds Bank will act as Joint Lead Managers on this issue.
The Bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter. The offer period will open on 25 November 2013 and is expected to close at noon on 6 December 2013. Premier retains the right to close the offer early, in conjunction with the Joint Lead Managers.
The Bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds.
The initial Authorised Distributors are:
· Barclays Stockbrokers
· Brown Shipley
· Canaccord Genuity Wealth
· Killik & Co
· Redmayne Bentley LLP
· Smith & Williamson
Simon Lockett, chief executive, Premier Oil, commented:
"We are delighted to announce the launch of Premier's debut sterling bond which will enable Premier to diversify its sources of debt finance."
For further information, please see Premier's website: www.premier-oil.com/bonds
For media enquiries please contact:
Premier Oil plc
Tel: +44 (0)20 7730 1111
Tel: +44 (0)20 7861 3232
Tel: +44 (0)20 7626 1500
Tel: +44 (0)20 7623 2323
Tel: +44 (0)20 7523 8000
The offering and the distribution of this announcement and other information in connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase, any Bonds. Any purchase of Bonds pursuant to the offer should only be made on the basis of the information contained in the base prospectus dated 18 November 2013 which relates to Premier Oil plc's £500,000,000 Euro Medium Term Note Programme (the "Prospectus") and the final terms relating to the Bonds (the "Final Terms"). The Prospectus and the Final Terms are available, at the website of Premier Oil above and the website of the London Stock Exchange plc (www.londonstockexchange.com/newissues).
The Bonds have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the "Securities Act") and, subject to certain exceptions, may not be offered or sold within the United States. The Bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act.
|London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.|
|©London Stock Exchange plc. All rights reserved|