NuVista Energy Ltd. Announces Issuance of $230 Million of Senior Unsecured Notes and Call of Existing 2023 Notes
13 Julho 2021 - 8:49PM
NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is
pleased to announce today that it has entered into an underwriting
agreement to sell, on a private placement basis, $230 million
aggregate principal amount of 7.875% senior unsecured notes due
July 23, 2026 (the "Notes"), which was increased from the
previously announced offering of $200 million. The Notes will be
issued at $989.89 expressed as a price per $1,000.00 principal
amount under a new trust indenture, and will be direct senior
unsecured obligations of NuVista ranking equal with all other
present and future senior unsecured indebtedness of the Company.
The Notes were offered in each of the provinces of Canada and in
the United States on a private placement basis without the filing
of a prospectus or registration statement (the "Offering"). Closing
of the Offering is expected to occur on or about July 23, 2021,
subject to satisfaction of customary closing
conditions. Certain directors and officers of NuVista
have elected to purchase $3.0 million of the Notes.
Subject to the completion of the Offering, the
net proceeds of the Offering, together with borrowings under the
Company’s credit facility, will be used to redeem all of the
Company's existing $220 million senior unsecured notes due 2023
(the "2023 Notes") at a redemption price of 101.625%, plus accrued
and unpaid interest.
CIBC Capital Markets and RBC Capital Markets are
acting as joint bookrunners for the Offering.
This release is not an offer of securities of
the Company for sale in the United States. The Notes of have not
been and will not be registered under the U.S. Securities Act of
1933, as amended, and the Notes may not be offered or sold in the
United States except pursuant to an applicable exemption from such
registration. No public offering of securities is being made in the
United States.
Forward-Looking Information and
Statements
This news release contains certain
forward-looking information and statements within the meaning of
applicable securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "will", "project",
"should", "believe", "plans", "intends" “forecast” and similar
expressions are intended to identify forward-looking information or
statements. In particular, but without limiting the foregoing, this
news release contains forward-looking information and statements
pertaining to the following: the completion of the Offering on the
terms anticipated, or at all; the anticipated use of proceeds of
the Offering; and timing of closing of the Offering, the proposed
redemption of the 2023 Notes and the source of funds therefor.
Forward-looking statements or information are
based on a number of material factors, expectations or assumptions
of NuVista which have been used to develop such statements and
information but which may prove to be incorrect. Although NuVista
believes that the expectations reflected in such forward-looking
statements or information are reasonable, undue reliance should not
be placed on forward-looking statements because NuVista can give no
assurance that such expectations will prove to be correct.
The forward-looking information and statements
contained in this news release speak only as of the date of this
news release, and NuVista does not assume any obligation to
publicly update or revise any of the included forward-looking
statements or information, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws.
FOR FURTHER INFORMATION
CONTACT:
Jonathan A. Wright |
Ross
L. Andreachuk |
Mike
J. Lawford |
President and CEO |
VP, Finance and CFO |
Chief Operating Officer |
(403) 538-8501 |
(403) 538-8539 |
(403) 538-1936 |
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