Hurricane Energy PLC Repurchase of Convertible Bonds (9002U)
08 Dicembre 2021 - 8:00AM
UK Regulatory
TIDMHUR
RNS Number : 9002U
Hurricane Energy PLC
08 December 2021
8 December 2021
Hurricane Energy plc
("Hurricane" or the "Company")
Notice of Repurchase of Hurricane's U.S.$230,000,000 7.50 per
cent. Convertible Bonds due 2022
Hurricane Energy plc, the UK based oil and gas company, is
pleased to announce that its subsidiary Hurricane GLA Limited has
completed the repurchase of U.S.$15.0 million in aggregate
principal amount of the Company's U.S.$230,000,000 7.50 per cent.
Convertible Bonds due 2022 (the "Bonds") (of which U.S.$152,016,000
in aggregate principal amount are outstanding) for a total
consideration of U.S.$14.0 million, including accrued interest.
The Bonds were acquired from Stifel Nicolaus Europe Limited and
will be surrendered for cancellation. Following cancellation, this
will result in the Company further reducing its aggregate principal
amount of the Bonds outstanding to U.S.$137,016,000 and leading to
a net saving in debt repayment and interest charges of U.S.$1.8
million.
The Company will continue to evaluate its liability management
options which may include further Bond repurchases from time to
time, subject to market conditions.
This notification does not constitute or form part of an offer
to sell or purchase, or a solicitation of an offer to sell or
purchase, the Bonds or any other securities.
Antony Maris, CEO of Hurricane, commented:
"Managing our outstanding debt is a key focus for Hurricane and
I am pleased we have been able to take this positive opportunity to
further reduce our bond obligations. Despite the current economic
climate and volatile oil price, and the remaining challenge of
bridging any funding gap for the repayment of the bonds, we will
continue to look at all options to maximise value from our assets
as we focus on meeting our debt repayment obligations and
beyond."
Contacts:
Hurricane Energy plc
Antony Maris, Chief Executive Officer
communications@hurricaneenergy.com +44 (0)1483 862820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart / Jason Grossman +44 (0)20 7710 7600
Investec Bank plc
Joint Corporate Broker
Chris Sim / Jarrett Silver +44 (0)20 7597 5970
Vigo Consulting
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigoconsulting.com +44 (0)20 7390 0230
About Hurricane
Hurricane has a 100% interest in and operates the Lancaster
field, the UK's first field to produce from a fractured basement
reservoir.
Hurricane also has a 50% interest in the Greater Warwick Area
licence, which contains the Lincoln and Warwick assets.
Visit Hurricane's website at www.hurricaneenergy.com
Inside Information
This announcement is released by Hurricane Energy plc and
contains inside information under Regulation (EU) 596/2014 on
market abuse, as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 (the UK MAR). For the purpose
of the UK MAR, this announcement is made by Antony Maris, Chief
Executive Officer at Hurricane Energy plc.
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END
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(END) Dow Jones Newswires
December 08, 2021 02:00 ET (07:00 GMT)
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