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New bond issue: Zhaikmunai Successfully Prices US$ 560 Million Bond Due 2019 - Press Release

November 5, 2012


Zhaikmunai L.P. (LSE: ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan today announces that its subsidiary Zhaikmunai International B.V. has successfully priced US$ 560 million aggregate principal amount of senior bonds with a seven-year maturity at a fixed coupon of 7.125% per annum. The transaction is expected to close on or about 13 November 2012.

Based on the amount of existing bonds that has been tendered into the pending tender offer to date, approximately US$ 358 million of the proceeds from the bond issue is expected to be used to re-finance existing debt, lengthening the company’s debt maturity profile and significantly reducing the interest rate on the group’s long term debt. The remaining net proceeds, after expenses in connection with the offering and the tender offer for existing debt, will be used for general corporate purposes.

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

“This new bond issue proved a major success for Zhaikmunai. The reaction from investors was very positive and the book was over four times oversubscribed. It corroborates the important progress we have made operationally since we issued our first bond in October 2010. Over that period, Zhaikmunai has increased its total production over five times and reduced its leverage on a Net Debt to EBITDA basis from 3 times down to below 1.

This financing provides an ideal platform as Zhaikmunai continues its development programme. The excellent result of this transaction has allowed us to extend over 80% of our existing liabilities to 2019 and to reduce our existing interest rate of 10.5% down to 7.125% on the US$ 560 million raised.”

The notes have received preliminary ratings of “B2” from Moody’s and “B” from Standard and Poor’s (S&P). Application has been made for the notes to be admitted to trading on the Global Exchange Market and to list on the Official List of the Ireland Stock Exchange (ISE) in accordance with the rules and regulations of such exchange.

Further information

For further information please visit

Further enquiries

Zhaikmunai LP

Bruno G. Meere

Kirsty Hamilton-Smith +44 (0) 1624 68 21 79

Pelham Bell Pottinger

Philip Dennis

Elena Dobson +44 (0) 207 861 32 32

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.

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 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.

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.
  • Status
    early redeemed
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    560,000,000 USD
  • М/S&P/F
    — / — / —
Company — Zhaikmunai
  • Full name
    Zhaikmunai LLP
  • Registration country
  • Industry
    Oil and gas