Gulf Keystone Petroleum LimitedLSE: GKP

Gulf Keystone Petroleum: Successful pricing of bond issuance

· Issued by Gulf Keystone Petroleum Limited via MFN

Summary by 6ix AI

Gulf Keystone Petroleum Ltd., an oil operator and producer in the Kurdistan Region of Iraq, completed a 5-year senior unsecured bond issue (debt not backed by specific assets) of USD 175 million, paying interest of 10.25 per cent per annum. The pricing was reported on 27 October 2026.

Key details

  • The bonds will be issued at 98 per cent of nominal value, and the issue was oversubscribed, meaning investors sought more bonds than were offered.
  • Gulf Keystone says the money will fund near-term capital spending, prepare the company for a return to development of the Shaikan Field and be used for general corporate purposes.
  • Arctic Securities AS and DNB Carnegie, a part of DNB Bank ASA, acted as joint bookrunners (the banks managing the sale), with SB1 Markets AS as co-manager.

What’s still pending

  • Settlement is expected on or about November 10, 2026, subject to customary conditions precedent.
  • Gulf Keystone will apply to list the bonds on the Euronext ABM market in Oslo, a Norwegian bond market.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/successful-pricing-of-bond-issuance

Watch Gulf Keystone Petroleum's latest callGulf Keystone Petroleum (LSE:GKP) Q2 2026 Earnings Call · Replay · Aug 25Read the transcript of Gulf Keystone Petroleum (LSE:GKP) Q2 2026 Earnings Call

27 October 2026

Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP)
(“Gulf Keystone”, “GKP”, “the Group” or “the Company”)

Successful pricing of bond issuance

Gulf Keystone is pleased to announce that it has successfully completed a 5-year senior unsecured bond issue of USD 175 million with a coupon rate of 10.25 per cent per annum. The bonds will be issued at 98 per cent of nominal value.

The bond issue was oversubscribed and attracted strong interest from high-quality international investors. The purpose of the bond issue is to fund near term capex, position the Company for a return to development of the Shaikan Field and be used for general corporate purposes.

Settlement of the bond issue is expected to occur on or about 10 November 2026, subject to customary conditions precedent. An application will be made for listing of the bonds on the Euronext ABM market in Oslo.

Gabriel Papineau-Legris, Gulf Keystone’s Chief Financial Officer, said:

“The successful bond raise will provide us with the balance sheet strength and flexibility to deliver production growth from the Shaikan Field as we prepare to embark on a multi-year development and drilling programme from 2027. This new bond follows ShaMaran’s recent successful $200 million issue and, on completion of the contemplated merger, will put the combined company in a strong position to unlock the significant growth potential of its diversified asset base.”

Arctic Securities AS and DNB Carnegie, a part of DNB Bank ASA, acted as joint bookrunners, and SB1 Markets AS acted as co-manager in the transaction. Advokatfirmaet BAHR AS acted as legal counsel for Gulf Keystone and Advokatfirmaet Thommessen AS acted as legal counsel for the joint bookrunners.

Gulf Keystone’s latest Corporate Presentation, which was used on the bond roadshow to discuss GKP’s plans for future investment in the Shaikan Field, is available to view on the Company’s website:
https://www.gulfkeystone.com/investors/presentations/

Enquiries:

Gulf Keystone:+44 (0) 20 7514 1400
Aaron Clark, Head of Investor Relations
& Corporate Communications
[email protected]

or visit: www.gulfkeystone.com

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com

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