SOURCE: Zhaikmunai LP

April 25, 2013 02:22 ET

Zhaikmunai L.P.: US$560 Million Bond Issuer Substitution Completed

AMSTERDAM, THE NETHERLANDS--(Marketwired - Apr 25, 2013) - Zhaikmunai L.P. (LSE: ZKM)


                        Zhaikmunai L.P.:
       US$560 MILLION BOND ISSUER SUBSTITUTION COMPLETED

Amsterdam. 25 April 2013. Zhaikmunai L.P. (LSE: ZKM) ("Zhaikmunai"),
the oil and gas exploration, development and production business is
pleased to announce the coming into effect of the substitution of
Zhaikmunai LLP as the issuer, in place of Zhaikmunai International
B.V., of the notes issued on 13 November 2012. This substitution was
planned at the time of the original issue and was described in the
offering memorandum dated 6 November 2012.

On 13 November 2012 Zhaikmunai International B.V., successfully issued
a US$ 560 million senior bond with a 13 November 2019 maturity and a
fixed coupon of 7.125% per annum (the "Notes"). The Notes were admitted
to the Official List and trading on the Global Exchange Market, which
is the exchange regulated market of the Irish Stock Exchange. On 2
April 2013, the Kazakhstan Stock Exchange (KASE) approved the admission
of the Notes to the "rated debt securities" category of the official
list of the KASE. The listing of the Notes on the KASE took place on 4
April 2013.

Following the listing of the Notes on the KASE, on 24 April 2013,
Zhaikmunai International B.V. and the existing guarantors of the Notes
(including Zhaikmunai LLP) entered into a supplemental indenture, as
provided for and pursuant to Section 4.15 of the indenture governing
the Notes, under which Zhaikmunai LLP assumed all of the original
issuer's obligations under the Notes and Zhaikmunai International B.V.
was released from its obligations under the Notes as the issuer and
became a guarantor of the Notes. The Notes also continue to be admitted
to the Official List and trading on the Global Exchange Market, which
is the exchange regulated market of the Irish Stock Exchange.

The remaining notes due 2015 of Zhaikmunai LLP (which were admitted to
the Official List of the Luxembourg Stock Exchange and admitted for
trading on the Luxembourg Stock Exchange's Euro MTF market in 2010 and
listed on the KASE in 2011) are unaffected by the substitution.

JSC "Halyk Finance" (Almaty) acted as financial advisor to Zhaikmunai
LLP in connection with the substitution and the KASE listing.

Disclaimer

The Notes have not been and will not be registered under the United
State Securities Act of 1933, as amended (the "Securities Act") nor the
securities laws of any state of the United States. The Notes many 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 the Notes in the United States or to conduct
a public offering of the Notes in the United States.

Further enquiries

Zhaikmunai LP - Investor Relations:
Bruno Meere
Kirsty Hamilton-Smith
 investor_relations@zhaikmunai.com 
+ 31 20 737 2288

Pelham Bell Pottinger
Philip Dennis
Elena Dobson
+44 (0) 20 7861 3232

About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging
in the production, development and exploration of oil and gas in
north-western Kazakhstan. Its Global Depositary Receipts (GDRs) are
listed on the London Stock Exchange (Ticker symbol: ZKM). Zhaikmunai's
principal producing asset is the Chinarevskoye field, in which it holds
a 100% interest and is the operator, through its wholly-owned
subsidiary Zhaikmunai LLP. In addition, Zhaikmunai holds a 100%
interest in and is the operator of the Rostoshinskoye, Darinskoye and
Yuzhno-Gremyachenskoye oil and gas fields. Located in the pre-Caspian
basin to the north-west of Uralsk, these exploration and development
fields are approximately 60 and 120 kilometres respectively from 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.

                    This information is provided by RNS
      The company news service from the London Stock Exchange

END

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