Mourant Ozannes provides Jersey law advice to Premier Oil regarding its fundraisings
Mourant Ozannes has acted for Premier Oil, a 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 £500m euro medium-term note programme.
The fundraising will enable Premier Oil to develop existing, discovered reserves as well as to 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 £2,000 to invest, and raised a greater-than-expected £150m, 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, and yield five per cent.
The Mourant Ozannes team comprised partner Ian O’Meara, who worked alongside Premier Oil’s English counsel Slaughter and May.
News from Mourant Ozannes
Briefings from Mourant Ozannes
The aim of this update is to focus on current legal and regulatory developments affecting financial services institutions in Jersey.
The continuing obligations of Cayman Islands regulated funds are set out in the Companies Law and Mutual Funds Law (as amended).