Zhaikmunai successfully place

RNS Number : 3755U

Zhaikmunai LP

14 October 2010

 



NOT FOR PUBLIC DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA.             

Zhaikmunai successfully places US$450 million bond due 2015 

DOUGLAS - 14 October, 2010 - Zhaikmunai LP (LSE: ZKM) ("Zhaikmunai"), the oil and gas exploration, development and production business based in northwestern Kazakhstan, today announces that its subsidiary Zhaikmunai Finance BV has successfully priced a US$450 million senior bond with an October 19^th, 2015 maturity and a fixed coupon of 10.50% per annum.  Proceeds from the bond issue will be used to re-finance existing debt, lengthening the company's debt maturity profile, and for general corporate purposes.

Citibank, ING and J.P. Morgan acted as Joint Lead Bookrunning Managers. In connection with the offering, which is due to settle in the next few days, the notes have received preliminary ratings of B from S&P and B3 from Moody's.

Application has been made for the notes to be admitted to trading on the Euro MTF market and to list on the Official List of the Luxembourg Stock Exchange, in accordance with the rules and regulations of such exchange.

Jan-Ru Muller, Chief Financial Officer of Zhaikmunai said: 

"The improved market conditions allowed us to successfully extend the maturity profile of our debt at attractive terms and to refinance our US$382 million secured syndicated loan. In addition, this further increases our flexibility and at the same time strengthens our financial position. The strong demand for the bond provides further evidence that a broad range of investors recognize the long-term strength of Zhaikmunai and the progress it has made in recent months."

For further information please visit www.zhaikmunai.com.

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This press release does not constitute or form a part of an offer of Securities for sale in the United States (including its territories and possessions, any State of the United States and the District of Columbia). Securities may not be offered or sold into the United States absent registration or an exemption from registration as provided in the Securities Act, and the rules and regulations thereunder. There is no intention to register any portion of any offering of Securities in the United States or to conduct a public offering of Securities in the United States.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Securities referred to herein (the "Securities") in any jurisdiction in which such offer, solicitation or sale would be unlawful absent registration, an exemption from registration or qualification under the securities laws of any such jurisdiction. The distribution of this press release may be restricted by law in certain jurisdictions and persons into whose possession this press release or other information referred to herein comes should inform themselves about and observe any such restriction. This document is not a prospectus and, to the extent that it may constitute an advertisement, does not constitute an offer to sell or the solicitation of an offer to purchase Securities. Investors should not subscribe for any Securities referred to herein except on the basis of the information contained in the offering memorandum (as amended or supplemented) relating to the offering of the Securities.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any offering of Securities will only be made available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Securities will be engaged in only with, relevant persons.

The Joint Lead Managers are acting for ZKM and no one else in connection with any offering of Securities and will not be responsible to anyone other than ZKM for providing the protections afforded to clients of the Joint Lead Managers nor for providing advice in connection with such offering

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.

Further enquiries

Zhaikmunai LP  

Bert Jordens, Investor Relations Officer

[e-mail]                               [phone]  

About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field. 

Forward-Looking Statements 

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

 

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