CALGARY, ALBERTA–(Marketwired – Sept. 25, 2017) – Seven Generations Energy Ltd. (TSX:VII) is proposing to offer, on a private placement basis, US$700 million aggregate principal amount of senior unsecured notes due 2025 (the “Notes“). Certain terms of the Notes, including the interest rate payable, will depend on market conditions at the time of pricing.
Seven Generations intends to use the net proceeds of the offering, together with its cash balances, to repurchase all of its outstanding US$700 million aggregate principal amount 8.250% senior unsecured notes due 2020 pursuant to a tender offer, to redeem any of the 8.250% senior unsecured notes that remain outstanding following completion of the tender offer, and to pay fees and expenses associated with the tender offer and redemption.
Seven Generations Energy
Seven Generations is a low-supply-cost, high-growth Canadian energy developer generating long-life value from its liquids-rich Kakwa River Project, located about 100 kilometres south of its operations headquarters in Grande Prairie, Alberta. Seven Generations’ corporate headquarters are in Calgary and its shares trade on the TSX under the symbol VII.