Aabar Petroleum Investments Company PJSC ("Aabar") due to strong demand in the Middle East and Europe has upsized the issue of exchangeable Trust Certificates (Sukuk al-Mudarabah) due 2010 (the "Sukuk") from US$350,000,000 to US$460,000,000. The Sukuk will be issued by Aabar Sukuk Limited (the "Issuer"), an entity created for the purposes of issuing the Sukuk.
The scheduled maturity date of the Sukuk is 28 June 2010 and a fixed profit rate of 6.894% will accrue on the Sukuk. In certain circumstances, and subject to shareholder approval for the issuance of additional capital by Aabar, the Sukuk may be redeemable by delivery of Aabar's ordinary shares at an exchange price of US$ 1.0895.
Mr. Suhail bin Faris Al Mazroui Chairman and CEO of Aabar, said: "We are delighted with the transaction and welcome our new investors to the company." Deutsche Bank AG acted as sole Global Coordinator, sole Bookrunner and Joint Lead Manager of the transaction and Abu Dhabi Commercial Bank acted as Joint Lead Manager.
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About Aabar Petroleum Investments Company PJSC
Aabar Petroleum Investments Company PJSC is a public joint stock company that was established in 2005 and completed its initial public offering on the Abu Dhabi Securities Market in 2005. Aabar's strategy is to focus on two segments within the oil and gas industry: oilfields drilling services and exploration and production.
About Aabar Sukuk Limited
Aabar Sukuk Limited is an exempted limited liability company incorporated in the Cayman Islands for the purpose of this transaction. The material set forth in this press release is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities whatsoever (including any Sukuk or shares of Aabar issued upon exchange of the Sukuk), in any jurisdiction in which such offer, solicitation or sale would be unlawful. In particular, it is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The offer and sale of the securities has not been, and will not be, registered under the United States Securities Act of 1933, as amended. The securities may not be offered or sold in the United States absent such registration other than pursuant to an applicable exemption from registration. There will be no public offering of the securities in the United States.
This document is not for distribution, directly or indirectly, in or into the United States. In the United Kingdom, this press release is directed only at persons who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order"), (ii) persons falling within any of the categories of persons described in Article 49 of the Financial Promotion Order, (iii) if effected by any person who is not an authorised person under the Financial Services and Markets Act 2000 ("FSMA"), is being addressed to or directed at, only the following persons: (a) persons who are Investment Professional as defined in Article 14(5) of the FSMA (Promotion of Collective Investment Schemes)(Exemptions) Order 2001 (the "Promotion of CISs Order") and (ii) persons falling within any categories of person described in Article 22 of the Promotion of CISs Order, and (iv) any other persons to whom it may otherwise lawfully be made. Persons of any other description should not act upon this document.
Deutsche Bank, which is regulated by the Financial Services Authority for the conduct of designated investment business in the UK, is acting for the Company and no one else in connection with the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to its clients.
For more information please contact:
Aabar Petroleum Investments Company PJSC
Mohamed Badawy Al-Husseiny
Chief Financial Officer
Tel: +971 2 626 4466
Fax: +971 2 626 8228
Deutsche Bank AG
Christopher Laing, Managing Director
Tel: +44 20 754-77709
Fax: +44 20 754-56301Notes for editors
© Press Release 2006
