CALGARY, March 13, 2017 /CNW/ - Vermilion Energy Inc.
("Vermilion" or the "Company") (TSX, NYSE: VET) announces the
closing of its previously announced private offering of
US$300 million senior unsecured notes
due 2025 (New Notes). The New Notes have a fixed coupon of
5.625% per annum, to be paid semi-annually on March 15 and September
15, commencing September 15,
2017. The company intends to use the net proceeds from the
New Notes to repay a portion of the debt outstanding on its
revolving credit facility.
The New Notes have not been and will not be registered under the
Securities Act of 1933, as amended ("U.S. Securities Act"), or
applicable state securities laws, and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state
securities laws. The New Notes have not been and will not be
qualified for sale to the public under applicable Canadian
securities laws and, accordingly, any offer and sale of the New
Notes in Canada will be made on a
basis which is exempt from the prospectus requirements of such
securities laws. Pursuant to the terms of the offering, the
New Notes will be offered and sold only on a prospectus-exempt
basis to institutional "accredited investors" in certain provinces
in Canada and, in the United States, will be offered and sold
only to "qualified institutional buyers" in reliance on Rule 144A
under the U.S. Securities Act and to certain non-U.S. persons in
transactions outside the United
States in reliance on Regulation S under the U.S. Securities
Act.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security in any jurisdiction
and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offering, solicitation
or sale would be unlawful.
About Vermilion
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing properties in North America, Europe and Australia. Our business model targets annual
organic production growth, along with providing reliable and
increasing dividends to investors. Vermilion is targeting growth in
production primarily through the exploitation of light oil and
liquids-rich natural gas conventional resource plays in
Canada and the United States, the exploration and
development of high impact natural gas opportunities in
the Netherlands and Germany, and oil drilling and workover
programs in France and
Australia. Vermilion also holds an 18.5% working interest in
the Corrib gas field in Ireland.
SOURCE Vermilion Energy Inc.