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Deal Date: 14-01-2014 Practice Area: Debt Capital Markets
Deal Title: Premier Oil plc Retail Bond Issuance Industry: Oil & Gas Producers
Leading offshore law firm Mourant Ozannes has acted for Premier Oil plc, the FTSE 250 listed international oil and gas exploration and production company, on the Jersey aspects of its recent fundraisings, including a retail bond issuance under its new GBP500 million euro medium term note programme. The fundraising will enable Premier Oil to develop existing, discovered reserves as well as explore for new sites in a range of locations, such as the North Sea, Indonesia, Vietnam and the Falkland Islands. The retail bond offering targeted small investors, with a minimum of GBP2,000 to invest, and raised a greater than expected GBP150 million, closing a day early due to high demand. The bonds are listed on the London Stock Exchange's Order Book for Retail Bonds, which was set up especially for small investors to trade in bonds. The bonds yield 5%, making them attractive to savers, and are due to mature in 2020. The bonds were guaranteed by certain of the Group's operating subsidiaries, including Premier Oil Finance (Jersey) Limited. The Mourant Ozannes team comprised of partner James Hill and counsel Ian OMeara.
Financial Center: Jersey Value: 500.01-1000.00
Advised Party: Issuer Law Firm
Issuer Jersey Listing United Kingdom
Classification: Retail Bonds Listed Retail Bonds
Lawyer James Hill