Obsidian Energy tender for C$5 million notes due 2027 well oversubscribed

By Wendy Van Sickle

Columbus, Ohio, Aug. 17 – Obsidian Energy Ltd. said it received tenders of C$72.5 million principal amount of notes under its tender offer to purchase up to C$5 million principal amount of its 11.95% senior notes due 2027 (Cusips: CA674482AA25, CA674482AB08, CA674482AC80), according to a press release.

Obsidian is offering C$1,030 per C$1,000 note, plus accrued interest up to the settlement date, which was Aug. 17. Because the offer was heavily oversubscribed, tenders were accepted on a prorated basis, and Obsidian paid a total purchase consideration of about C$5 million.

There was C$123.5 million of the notes outstanding when the company made the offer on Aug. 3.

The offer expired at 5 p.m. ET on Aug. 14.

Computershare Investor Services Inc. is the tender agent (800 564-6253, corporateactions@computershare.com).

Obsidian Energy is a Calgary, Alta.-based oil and natural gas production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.