TIDMGPK

RNS Number : 1022X

Geopark Holdings Limited

05 February 2013

 
 
   Embargoed for release at 7:00     05 February 2013 
   am

GEOPARK HOLDINGS LIMITED

Successful Placing of US$300 Million 7.625% 7-Year Senior Secured Notes Due 2020

GeoPark Holdings Limited ("GeoPark" or the "Company"), the Latin American oil and gas explorer, operator and consolidator with operations and production in Chile, Colombia and Argentina (AIM: GPK), is pleased to announce that it has successfully placed US$300 million notes to be offered under Rule 144A and Regulation S exemptions of the U.S. Securities laws.

The Notes, to be issued by the Company's wholly-owned subsidiary GeoPark Latin America Limited Agencia en Chile ("the Issuer"), were priced at 99.332% and will carry a coupon of 7.50% per annum to yield 7.625% per annum. Final maturity of the notes will be 11 February 2020. The Notes are guaranteed by GeoPark and secured with a pledge of all of the equity interests of the Issuer in GeoPark Chile S.A. and GeoPark Colombia S.A. and a pledge of certain intercompany loans. Notes were rated single B by both Standard & Poor's and Fitch Ratings.

The net proceeds of the notes will be used to finance the Company's expansion plans in the region and also to repay existing debt of approximately US$170 million, including the existing RegS Notes due 2015. The transaction extends GeoPark's debt maturity significantly, allowing the Company to allocate more resources to its investment programs in the following years.

Settlement of the transaction is expected on 11 February 2013.

Commenting, James F. Park, Chief Executive Officer of GeoPark, said, "We are pleased with the success of this bond transaction and the strong interest shown by the international investment community and capital markets, which resulted in a substantial over-subscription of the offering. We believe this transaction demonstrates GeoPark's foundation of stable production and cash flow growth and our continuing ability to access capital from diversified funding sources - which is a key element of our dynamic growth plans. We also appreciate the important efforts and support of our GeoPark team, all our advisors and counsels."

GeoPark can be visited online at www.geo-park.com

For further information please contact:

 
 GeoPark Holdings Limited 
 Andres Ocampo (Buenos Aires)                  +54 11 4312 9400 
  Pablo Ducci (Chile)                           +56 2 2242 9600 
 
 Oriel Securities - Nominated Adviser and 
  Joint Broker 
 Michael Shaw (London)                         +44 (0)20 7710 7600 
 Tunga Chigovanyika (London) 
 
 Macquarie Capital (Europe) Limited - Joint 
  Broker 
 Jeffrey Auld (London)                         +44 (0)20 3037 2000 
 Steve Baldwin (London)

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration and any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from GeoPark and will contain detailed information about our company and management, as well as financial statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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