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Maples advises Zhaikmunai L.P. (LSE: ZKM),

16 November 2012

Maples and Calder advises Zhaikmunai L.P. (LSE: ZKM), the London Stock Exchange listed oil and gas exploration and production enterprise with assets in north-western Kazakhstan, its subsidiaries and the Initial Purchasers as to British Virgin Islands ("BVI") law in connection with the issuance by Zhaikmunai International B.V. of US$560 million aggregate principal amount of senior bonds with a seven-year maturity at a fixed coupon of 7.125% per annum.  The bonds were listed on the GEM market of the Irish Stock Exchange on 13 November 2012.  Proceeds from the bond issue are being used to re-finance existing debt, lengthening the company’s debt maturity profile and significantly reducing the interest rate on the group’s long term debt.  The remaining net proceeds, after expenses in connection with the offering and the tender offer for existing debt, will be used for general corporate purposes.  Matthew Gilbert of the BVI practice group in Maples' London office was instructed as joint BVI counsel.


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