Approval of Proposed Amendments and Waivers (Senior Notes due 2015)
Zhaikmunai L.P. announces approval of the Proposed Amendments and Waivers in relation to Zhaikmunai LLP’s US$450 million 10.50% Senior Notes due 2015
March 2, 2012. Further to its announcement on February 21, 2012, Zhaikmunai L.P. (the “Parent“) announces that Zhaikmunai LLP (the “Issuer“) has obtained Consents from Holders of a majority in aggregate principal amount of the US$450,000,000 10.50% Senior Notes due 2015 (the “Notes“) (ISIN: (Reg S)USN97708AA49/(144A)US98951QAA31) (CUSIP:(Reg S)N97708AA4/(144A)98951QAA3) to the Proposed Amendments and Waivers to the indenture governing the Notes. Accordingly, today the Issuer, the Guarantors, the Trustee and the Collateral Agent executed the Supplemental Indenture giving effect to such Proposed Amendments and Waivers. Capitalised terms used in this announcement and not otherwise defined have the meanings ascribed to them in the consent solicitation statement dated February 21, 2012 (the “Consent Solicitation Statement“).
The Solicitation expired at 5:00 p.m., New York time, on March 1, 2012. The consideration for each US$1,000 principal amount of Notes for which a Consent was received prior to the Expiration Time and not validly revoked is US$5 (the “Consent Payment“). Subject to the satisfaction of the Consent Payment Conditions, the payment of the Consent Payment will be made on the Payment Date, which is expected to be March 6, 2012. Subject to the payment of the Consent Payment, the Proposed Amendments and Waivers set forth in the Supplemental Indenture will be binding on all Holders, irrespective of whether such Holders delivered a Consent. However, the Parent, the Issuer and the Guarantors may decide not to undertake the Listing or the Reorganization Transactions even though the Supplemental Indenture has been executed.
The Issuer has retained Citigroup Global Markets Limited as Solicitation Agent and Citibank, N.A., London Branch as Tabulation Agent with respect to the Solicitation.
Requests for information in relation to the Solicitation should be directed to:
Solicitation Agent:
Citigroup Global Markets Limited
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom
Attention: Liability Management Group
London: +44 (0) 20 7986 8969
Toll Free: (800) 558 3745
Collect: (212) 723 6106
E-mail: liabilitymanagement.europe@citi.com
Tabulation Agent:
Citibank, N.A., London Branch
14th Floor
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom
Attention: Exchange Team
The Tabulation Agent may be contacted at:
+44 (0) 20 7508 3867
Facsimile Transmission Number: +44 (0)20 3320 2405 (for eligible institutions only)
E-mail: exchange.gats@citi.com
Attention: Exchange Team
