ShaMaran Closes US$ 240 Million Bond Issue

About this update from Shamaran Petroleum Corp.

[{"type":"text","content":"\n\n\n\nShaMaran Closes US$ 240 Million Bond Issue\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 5, 2018\n\n\n\nVANCOUVER, July 5, 2018 /CNW/ -  ShaMaran Petroleum Corp. (\"ShaMaran\" or the \"Corporation\") (TSX Venture: SNM), (NASDAQ First North: SNM) is pleased to announce that it has issued the USD 240 million senior unsecured bonds previously announced on June 19th, 2018 under ISIN NO 00108264456 and with settlement date of today. View PDF Version\n\nProceeds from the new bond issue have been used to retire the existing bonds of the Company's wholly owned subsidiary, General Exploration Partners, Inc. \n\nIn connection with the bond issue, Nemesia S.à.r.l. (\"Nemesia\"), a company controlled by a trust settled by the estate of the late Adolf H. Lundin, has agreed to undertake a guarantee of the Company's obligation to fund, on or before July 5, 2019, 12 month's bond coupon interest in a debt service retention account pledged to the bond trustee (the \"Liquidity Guarantee\"). In exchange for the Liquidity Guarantee the Company has agreed, subject to obtaining all requisite regulatory body approvals, to issue to Nemesia 2,000,000 common shares of ShaMaran as fully paid shares and, in case of a draw down on the Liquidity Guarantee, a further 50,000 shares of ShaMaran for each USD 500,000 drawn down per month until the drawn amount is repaid. \n\nPareto Securities AS acted as manager and bookrunner for the bond issue. \n\nOTHER\n\nThis information in this release is subject to the disclosure requirements of ShaMaran Petroleum Corp. under the EU Market Abuse Regulation. This information was submitted for publication by the persons below at 2:30 p.m. Pacific time on July 5, 2018. \n\nABOUT SHAMARAN\n\nShaMaran Petroleum Corp. is a Kurdistan focused production, development and exploration company with a 20.1% direct interest in the Atrush oil field.  As announced in ShaMaran's June 4, 2018 news release, the Company has signed an agreement with Marathon Oil KDV B.V. to acquire its 15% interest in the Atrush ...

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