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Antilliaans Dagblad Zaterdag 15 februari 2020 ADVERTENTIE 5

STAATSOLIE MAATSCHAPPIJ SURINAME N.V.
BE PART OF OUR SUCCESS!

STAATSOLIE BOND 2020: USD 150 MILLION
MINIMUM INVESTMENT: USD 30,000
LISTED AT: DCSX

TERMS:
5.5 YEARS AT 7% PER YEAR OR
7 YEARS AT 7.5% PER YEAR

Subscription period: 5 February - 5 March 2020
Issue date: 23 March 2020

Why invest?
An investment in Staatsolie bonds could be attractive for the following reasons:
• Very profitable company with low leverage;
• A solid credit history and a very strong repayment capacity;
• A well-managed company with independent management and excellent track record;
• Many partnerships with reputable global players; banks such as Credit Suisse, ING Bank and FCIB/CIBC,
and oil exploration companies such as Total, Exxon and Chevron;
• Only oil producing and refining company and largest supplier of fuel oil and refined products in Suriname;
• Producing 80% of Suriname’s power consumption;
• Very profitable gold mining joint ventures;
• Long reserve life and low operating costs.
The prospectus is available on www.staatsolie.com and www.dsb.sr.

Staatsolie
Staatsolie is a limited liability company incorporated in 1980 and domiciled in Suriname. Staatsolie is vertically integrated across the energy
value chain and its core activities are crude oil exploration and production, refining, retail fuel distribution and power generation. Its onshore
oil exploration and refining activities have been consistently profitable, and the oil find as announced by Apache Corporation and Total on 7
January this year creates a whole new growth perspective for the company. In addition to its core business activities, Staatsolie owns a 25%
limited partnership interest in the Merian gold mining project, a joint venture with Newmont from the U.S.A. (the world’s leading gold company;
publicly traded) and will acquire a 30% limited partnership interest in the Saramacca gold mining project, a joint venture with IAMGOLD
Corporation from Canada (publicly traded).The integrated and low-cost nature of Staatsolie’s oil business combined with investments in gold
and power generation creates a diversified revenue base that mitigates cash flow volatility across the commodity price cycle, and results in a
financial resilience that is rather unique in the industry. Although wholly owned by the country Suriname, Staatsolie is managed independently
by a group of highly experienced oil professionals from the private sector with involvement by the Government of Suriname only in accordance
with the bylaws of the Company. Staatsolie has been profitable for 36 of the past 39 years. As evidenced by the Company’s EY-audited financials,
revenues and EBITDA have experienced an 11.8% and 35.2% CAGR, respectively, for the period 2016-2019. For 2019, Staatsolie expects to
record consolidated revenues of USD 499 million, an EBITDA of USD 377 million, an EBITDA margin of 76%, a profit before tax of USD 184
million, a net profit of USD 123 million, a consolidated year-end balance sheet total of around USD 2.2 billion with an equity of USD 1.3 billion,
a DSCR at 4.6x, a Debt/EBITDA ratio of 1.8x and a Debt/Capital ratio of 30%. The investment in the Saramacca Project and the Afobaka Dam
will, on average and per year, result in an additional EBITDA of USD 25 million and USD 18 million respectively, further improving the earning
capacity of Staatsolie. Staatsolie has decided to carry out an investment program of around USD 1 billion for the years 2020-2027, in order to
sustain its current production and profitability level, and to facilitate its further expansion into gold mining and electricity generation. Based on
the Prospectus, Staatsolie seeks to raise USD 150 million through a bond issue listed at the DCSX in Curacao. The proceeds of the Bonds Issue
will be used to refinance the Staatsolie Bonds 2015 for a total principal amount of USD 99.1 million maturing in May 2020. The remainder will
mainly be used to fund the investment program.

Arranger/Bond and Paying agent: Broker: Listed on: Listing advisor:

CONFIDENCE IN OUR OWN ABILITIES
Contact:
Mrs. Maria-Liza Zunder-Curiel
mzunder@vidanovabank.com