Sequa Petroleum N.V. Closes Convertible Bond Offering of U.S.$300 Million

London (ots/PRNewswire) -

NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF
AMERICA, AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION IN
WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW

Following the launch on 21 April 2015 of the offering of a
convertible bond of up to U.S.$300 million maturing in April 2020
(the "Bonds"), Sequa Petroleum N.V. is pleased to announce that
pricing of the Bonds took place on 24 April 2015 and settlement
completed today. The Bonds, which were issued at par in an initial
aggregate principal amount of U.S.$300 million and will be
convertible into approximately 85.7 million new Sequa Petroleum N.V.
ordinary shares, representing up to approximately 30% of the ordinary
shares of Sequa Petroleum N.V. following conversion in full of the
Bonds.

Proceeds from the offering will allow the Sequa Petroleum group to
finance its acquisition activities as well as being used for its
general financing and corporate purposes.

The Bonds were issued with an annual coupon of 5.00% (which will
be payable semi-annually in arrear). The initial conversion price is
U.S.$3.50 per ordinary share. The conversion price is subject to
customary adjustments pursuant to the terms and conditions of the
Bonds. The Bonds were issued by Sequa Petroleum N.V. and are intended
to be listed on the Cayman Islands Stock Exchange on or before the
first interest payment date in respect of the Bonds.

The repayment obligation under a previously existing shareholder
loan (drawn down in an amount of approximately U.S.$126 million with
approximately U.S.$3 million of accrued interest) was settled by
issuing Bonds in exchange for that loan on a dollar for dollar basis,
free of payment.

In addition, U.S.$95.6 million in aggregate principal amount of
the Bonds were issued and are held on behalf of the Issuer for the
purposes of prospective sales to third party purchasers outside the
United States. Any such Bonds which have not been sold during the
period of six weeks immediately following today's closing will be
cancelled and holders of the Bonds will be notified of the final
issue size following the expiry of the six week period referred to
above.

U.S.$75 million of the proceeds from the issuance of the Bonds
(less certain fees and expenses) were paid to Sequa Petroleum N.V. at
closing.

Anoa Capital S.A. is acting as Sole Global Coordinator, and,
together with ADS Securities LLC, Abu Dhabi, as Joint Bookrunner.

In addition, Sapinda Asia Limited, an existing shareholder of
Sequa Petroleum N.V. has entered into a commitment, subject to
regulatory approvals, to subscribe for up to U.S.$62.5 million of
additional ordinary shares in Sequa Petroleum N.V. during 2015.

This notice is not an offer for sale or a solicitation of an offer
to purchase Bonds or any other security of Sequa Petroleum N.V.

About the Sequa Petroleum group

The Sequa Petroleum group is an oil and gas group which focuses on
taking discovered oil and gas reserves and resources from appraisal
through to production. Sequa Petroleum N.V. is a public limited
liability company (naamloze vennootschap) incorporated under the laws
of The Netherlands, having its corporate seat in Amsterdam, The
Netherlands and its registered office at 23 Savile Row, London, W1S
2ET, United Kingdom.

This announcement is not for publication or distribution, directly
or indirectly, in or into the United States of America (including its
territories and possessions, any state of the United States and the
District of Columbia). This announcement is not an offer of
securities for sale in the United States. The securities referred to
herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in the
United States. This announcement is only distributed to and aimed at
(i) persons outside the United Kingdom or (ii) professional investors
as per Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005/1529 (the "Order"), or (iii) high
net worth companies and other high net worth persons as per Articles
48 and 49 of the Order (these persons jointly being termed "qualified
persons"). All of the securities named herein are available only to
qualified persons and any invitation, offer or agreement to subscribe
to, buy or otherwise acquire them is made only to qualified persons.
Persons who are not qualified persons should on no account act with
regard to or in confidence in this information or its contents.

This announcement is for information purposes only and does not
constitute an offer to sell, or a solicitation or an offer to buy any
securities. In connection with this transaction there has not been,
nor will there be, any public offering of the Bonds. No prospectus
will be prepared in connection with the offering of the Bonds. The
Bonds may not be offered to the public in any jurisdiction in
circumstances which would require the Sequa Petroleum N.V. to prepare
or register any prospectus or offering document relating to the Bonds
in such jurisdiction. The distribution of announcement and the offer
and sale of the Bonds in certain jurisdictions may be restricted by
law.

Contacts:

Jacob Broekhuijsen, CEO
Alistair Williams, CFO

+44(0)203-728-4450

info@sequa-petroleum.com

ots Originaltext: Sequa Petroleum N.V.
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