Peyto Exploration & Development Corp. Announces Closing of Private Placement of Senior Notes
January 02 2018 - 5:24PM
Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto") is
pleased to confirm that it has closed an issuance of CDN$100
million of senior unsecured notes. The notes have a coupon rate of
3.95% and mature on January 2, 2028. The notes were issued by
way of a private placement, pursuant to a note purchase agreement
and a note purchase and private shelf agreement, and rank equally
with Peyto's obligations under its bank facility and existing note
purchase agreements. Interest will be paid semi-annually in
arrears. Proceeds from the notes will be used to repay a portion of
Peyto's outstanding bank debt.
The issuance of the senior notes expands Peyto's
aggregate borrowing capacity to $1.92 billion.
The senior notes 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 absent registration
or an applicable exemption from registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer or
sale of the senior notes in any state, or jurisdiction in which
such offer, solicitation or sale would be unlawful.
For further information please contact:
Darren GeePresident and Chief Executive
OfficerPhone: (403) 237-8911Fax: (403) 451-4100
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