ShaMaran Successfully Places US$ 240 Million Bond

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[{"type":"text","content":"\n\n\n\nShaMaran Successfully Places US$ 240 Million Bond\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, June 19, 2018\n\n\n\nVANCOUVER, June 19, 2018 /CNW/ - ShaMaran Petroleum Corp. (\"ShaMaran\" or the \"Corporation\") (TSX Venture: SNM), (NASDAQ First North: SNM) is pleased to announce the successfully placement of USD 240 million senior unsecured bonds. The net proceeds from the bonds will be used to refinance all the existing outstanding bonds issued by ShaMaran's wholly owned subsidiary, General Exploration Partners Inc. (\"GEP\"), and to finance the Marathon acquisition as announced on June 4th, 2018. The new bonds have a five year maturity without amortization and carry 12% fixed semi-annual coupon. Settlement is expected to be on or about July 5, 2018. View News Release in PDF Format.\n\nIn connection with the new bond issue, GEP will call its existing bonds by issuing call notices to bondholders that have not offered to roll their existing bonds into the new bonds. Approximately USD 117 million of GEP01 bonds with ISIN NO0010692882 (senior bonds) will be rolled over into the new bonds and the entire amount of super senior bonds with ISIN NO0010764178 will be redeemed. The residual amount outstanding in each bond plus accrued interest and call premium (for GEP01) will be deposited in defeasance accounts upon settlement of the new bond whereby the existing bonds terms and conditions will be waived until the full repayments of the existing bonds have been effectuated. \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 on 11:00 am Pacific time on June 19, 2018. \n\nABOUT SHAMARAN\n\nShaMaran Petroleum Corp. is a Kurdistan focused production, development and exploration company with a 20.1% (35.1% following close of the Acquisition) direct interest in the Atrush oil field. The...

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