Business
Zhaikmunai successfully place
Zhaikmunai successfully place.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n RNS Number : 3755U Zhaikmunai LP 14 October 2010 \n \n\nNOT FOR PUBLIC DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA. \n \nZhaikmunai successfully places US$450 million bond due 2015 \n \nDOUGLAS - 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 19th, 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.\nCitibank, 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.\n \nApplication 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.\n \nJan-Ru Muller, Chief Financial Officer of Zhaikmunai said: \n \n\"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.\"\n \nFor further information please visit www.zhaikmunai.com.\n---------------------------------------------------------------------------\n \nBy accepting delivery of this press release you will be deemed to have represented, agreed and acknowledged either that you are (i) a qualified institutional buyer, as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), or (ii) outside the United States.\n \nANY FORWARDING, DIS...