Peyto Exploration & Development Corp. Announces Closing of Private Placement of Senior Notes
January 03 2019 - 5:00PM
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 4.39% and mature on January 3, 2026. The notes were
issued by way of a private placement pursuant to a note purchase
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 the senior notes of Peyto which matured on January 3,
2019. The issuance of the senior notes maintains Peyto's
aggregate borrowing capacity at $1.92 billion.
The senior notes have not been and will not be
registered under the United States 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.
Darren GeePresident and Chief Executive Officer
Phone: (403) 237-8911 Fax: (403) 451-4100
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