29 Nov 2013 07:00
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.
29 November 2013
PREMIER OIL PLC 5% STERLING BONDS DUE 2020 (THE "BONDS")Update On Expected Issue Size Relating To The Bonds
On 25 November 2013, Premier Oil plc ("Premier") announced and launched an offer of the Bonds, available to wholesale and retail investors. The offer is the first of various possible future issues under Premier's £500 million Euro Medium Term Note Programme, which was established on 18 November 2013 and enables Premier to issue retail or wholesale notes in various markets and currencies.
Based on the progress of the book build to date, the total amount of the Bonds to be issued will be at least £100 million.
Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc are acting as Joint Lead Managers in respect of the offer of the Bonds.
The offer period is currently open and is due to close at 12 noon (London time) on 6 December 2013. Premier Oil plc and the Joint Lead Managers retain the right to close the offer period early and at short notice. A further announcement via RNS will be released to confirm the close of the offer period in due course.
Simon Lockett, Chief Executive, Premier Oil, commented:
"We are pleased to be offering a retail bond as our first issuance under our new Euro Medium Term Note Programme and with the initial demand from investors. This will enable Premier to diversify its sources of debt funding and extend the maturity profile of its debt ahead of the refinancing of Premier's main bank facilities which mature in 2015."
-Ends-
For further information, please see Premier's website: www.premier-oil.com/bonds
For media enquiries please contact:
Premier Oil plc Simon Lockett Tony Durrant
| Tel: +44 (0)20 7730 1111 |
Bell Pottinger Victoria Geoghegan Elizabeth Snow
| Tel: +44 (0)20 7861 3232 |
Barclays Matthew Thomas Henry Waite
| Tel: +44 (0)20 7623 2323
|
Canaccord Genuity Adrian Bell Morton Llewellyn
| Tel: +44 (0)20 7523 8000
|
Lloyds Bank Robert Greene Marcus Coverdale
| Tel: +44 (0)20 7626 1500 |
IMPORTANT INFORMATION
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 18th November 2013 which relates to Premier Oil plc's £500,000,000 Euro Medium Term Note Programme (the "Prospectus") and the final terms dated 25th November 2013 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.