By Christine Van Dusen
Atlanta, Oct. 14 - Kazakhstan's Zhaikmunai priced $450 million notes due Oct. 19, 2015 at par to yield 10½%, a market source said Thursday.
Citigroup, ING and JPMorgan were the bookrunners for the Rule 144A and Regulation S notes, which are non-callable until Oct. 19, 2013 and include a change-of-control put at 101%.
Proceeds will be used for general corporate purposes and to refinance existing debt and lengthen the company's debt maturity profile.
Zhaikmunai is an oil exploration, development and production company.
| Issuer: | Zhaikmunai
|
| Amount: | $450 million
|
| Maturity: | Oct. 19, 2015
|
| Description: | Notes
|
| Bookrunners: | Citigroup, ING, JPMorgan
|
| Coupon: | 10½%
|
| Price: | Par
|
| Yield: | 10½%
|
| Call features: | Non-callable until Oct. 19, 2013
|
| Change-of-control put: | 101%
|
| Trade date: | Oct. 12
|
| Settlement date: | Oct. 19
|
| Distribution: | Rule 144A and Regulation S
|
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