Obsidian Energy wraps C$2 million tender offer for notes due 2027

By Mary-Katherine Stinson

Lexington, Ky., March 15 – Obsidian Energy Ltd. reported that about C$49.2 million of its 11.95% senior notes due 2027 (Cusips: CA674482AA25, CA674482AB08, CA674482AC80) were tendered by the expiration of its cash tender offer for up to C$2 million of the notes, according to a notice.

Obsidian offered to purchase the notes for C$1,030 per C$1,000 note, plus accrued interest up to the settlement date.

Tendered notes were accepted for purchase on a prorated basis as the offer was oversubscribed. Notes were accepted for purchase and cancellation only in principal amounts equal to C$2,000 minimum and integral multiples of C$1,000.

There were guaranteed delivery procedures for the offer.

The offer expired at 5 p.m. ET on March 11, which was also the withdrawal deadline.

The offer settled on March 14, leaving C$114.2 million of the notes outstanding.

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.

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