GKP Launches Convertible Bonds

By John Lee.

Gulf Keystone Petroleum (GKP) announced today the launch of an offering of senior unsecured convertible bonds which will be issued in a principal amount of US$ 50 million.

The New Bonds are to be issued on the same terms (save for the issue price) as, and shall be consolidated and form a single series with, the US$ 275,000,000 6.25% Convertible Bonds due October 2017, issued by the Company on 18 October 2012. The Offering is being made by way of a Reg. S. institutional private placement.

The issue price of the New Bonds, to be determined after book-building, will be announced as soon as it has been finalised.

Closing and settlement of the Offering is expected on 6 November 2013. An application will be made to admit the New Bonds to trading on the EuroMTF market of the Luxembourg Stock Exchange prior to 30 November 2013.

BNP Paribas is acting as Sole Bookrunner and Lead Manager in respect of the Offering.

Natixis is acting as Co-Bookrunner in respect of the Offering.

(Sources: )