Business
Successful Placement of Nordic Bond Issue
Jadestone Energy plc has successfully completed a US$200 million senior secured bond issue maturing in 2031 with a 12% coupon, which was materially oversubscribed and will be used to refinance its existing reserve-based lending facility and for general corporate purposes. The bond placement saw strong investor demand, with the Company's largest shareholder, Tyrus Capital, subscribing for US$25 million, a transaction deemed fair and reasonable by independent directors. The bond principal will amortize at US$50 million annually from the third anniversary, with a final US$100 million repayment at maturity, providing a strong financial foundation to focus on growth opportunities, particularly the Vietnam development. Disclaimer*
About this update from Jadestone Energy Plc
Successful Placement of Nordic Bond Issue 26 March 2026 - Singapore: Jadestone Energy UK plc, a subsidiary of Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone"), an independent upstream production and development company focused on the Asia-Pacific region, has today successfully completed a US$200 million senior secured bond issue with maturity in 2031 and a coupon of 12% (the "Nordic Bond Issue"). The bond placement was materially oversubscribed and saw strong investor demand across Nordic and international markets. The Company's largest shareholder, Tyrus Capital, subscribed for and was allocated US$25 million in the bond issue. The bond principal amortizes at US$50 million per annum from the third anniversary of the bond issue with a final repayment of US$100 million at the maturity date. For the purposes of AIM Rule 13, the participation by Tyrus Capital in the Nordic Bond Issue constitutes a related party transaction. The Independent Directors (being directors who did not, together with their affiliates, participate in the Nordic Bond Issue), having consulted with the Company's nominated adviser, consider that the terms of this related party transaction are fair and reasonable insofar as its shareholders are concerned. Dr. Adel Chaouch, Executive Chairman, commented: "We are pleased that our debut bond offering generated substantial demand from credit investors seeking exposure to the strong upstream growth story of the Asia-Pacific region. The Nordic Bond Issue will deliver a strong financial foundation for the business, and allow Jadestone to focus its near-term cash flow generation on growth opportunities, particularly as we seek to move our Vietnam development forward following the key recent milestone of field development plan approval." Settlement is expected on or about 14 April 2026, subject to customary conditions precedent. An application will be made to list the bonds at the Nordic ABM. Proceeds from the new bond issue will be used to refinance Jadestone's existing reserve-based lending facility as well as for general corporate purposes. Arctic Securities AS and SB1 Markets AS acted as joint bookrunners for the transaction. Wikborg Rein Advokatfirma AS acted as legal counsel to the Company and Advokatfirmaet Thommessen AS acted as legal couns...
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