Gulf Keystone Petroleum (GKP) has mandated Pareto Securities to arrange fixed income investor meetings in conjunction with a potential bond issue.
Following these meetings, and subject to market conditions and acceptable terms, a 5-year senior unsecured bond issue of $100 million (the “New Notes”) may take place.
The proceeds from the New Notes will be used to refinance Gulf Keystone’s existing $100 million Guaranteed Notes due 2021 (the “Existing Notes”).
Subject to market conditions, offer restrictions and the successful closing of the New Notes, Gulf Keystone invites holders of the Existing Notes to offer to exchange their outstanding Existing Notes for the New Notes.
With respect to any Existing Notes not tendered for exchange, the Company intends to exercise the option to redeem all of the Existing Notes then outstanding.