Independent Oil & Gas  (UK)

Independent Oil & Gas plc

2011

Public Limited Company

Status: Performing

All payments are on time

Coupon

E+9.5%

Current Yield

9.4%

*
Yield to Maturity

9.2%

*
Maturity Date

20 Sep 2024

Next Interest Payment

20 Dec 2019

Interest Period

3 months

Asset Security

Senior Secured

Industry

Energy, Utilities & Infrastructure

Amount

€100,000,000

ISIN

NO0010863236

Call Schedule

20 Sep 2022 at 104.75
20 Mar 2023 at 103.8
20 Sep 2023 at 102.85
20 Mar 2024 at 100.5

Coupon Type

Floating Rate over 3m Euribor

* Current Yield and Yield to Maturity are an estimated return calculation and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Business Description

Independent Oil & Gas (IOG) owns six gas fields in the North Sea, with reserves totalling c.412 billion cubic feet of natural gas. Since being established in 2011, IOG has been exploring the North Sea, uncovering and acquiring reserves to build it's gas portfolio.

In 2019, the company successfully issued a €100m eurobond and secured a partnership with Warren Buffet's Berkshire Hathaway Energy Management to begin developing it's gas fields with first gas (production) expected by July 2021.

IOG also owns the Thames Pipeline which will be used to export the entire gas portfolio (from reserve to sale). IOG estimates that ownership of the pipeline will save the company £200m over the lifetime of it's gas fields.

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Capital at risk. No FSCS cover. See Risk Statement.

 

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