By Colin Hanner
New York, July 17 – Nostrum Oil & Gas plc priced $725 million of five-year notes (expected ratings: B2/B) at par to yield 8% on Monday, according to a syndicate source.
The Rule 144A and Regulation S notes are guaranteed by Nostrum Oil & Gas plc and Zhaikmunai LLP. They were sold via joint bookrunners Citibank, VTB Capital, Banca IMI and Deutsche Bank.
Nostrum is also tendering for Zhaikmunai LLP’s 7 1/8% senior notes due 2019 and 6 3/8% senior notes due 2019. The tender offers will continue until July 27.
Nostrum, formerly known as Zhaikmunai LP, is a Uralsk, Kazakhstan-based oil and gas exploration and production company with interests in northwestern Kazakhstan.
| Issuer: | Nostrum Oil & Gas plc
|
| Guarantors: | Nostrum Oil & Gas plc and Zhaikmunai LLP
|
| Issue: | Senior notes
|
| Amount: | $725 million
|
| Maturity: | July 25, 2022
|
| Bookrunners: | Citibank, VTB Capital, Banca IMI and Deutsche Bank
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Trade date: | July 17
|
| Settlement date: | July 25
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
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