CALGARY, Alberta – Seven Generations Energy Ltd. (TSX: VII) Seven Generations Energy Ltd. has issued a notice of partial redemption to holders of its 6.875% unsecured notes due 2023 (the “6.875% Notes”) to provide notice of its election to redeem US$180 million of the US$294 million aggregate principal amount currently outstanding on December 31, 2020 (the “Redemption Date”) at a redemption price of 101.719% of the aggregate principal amount of redeemed notes, or $1,017.19 per $1,000.00, together with accrued and unpaid interest on the redeemed notes up to, but not including, the Redemption Date.
Seven Generations plans to fund the partial redemption by drawing down its secured credit facilities, currently scheduled to expire in 2024, and expects the partial redemption to reduce corporate interest costs and increase financial flexibility. Following the redemption, the aggregate principal amount of 6.875% Notes outstanding will be US$114 million.
Seven Generations is a low supply-cost energy producer dedicated to stakeholder service, responsible development and generating strong returns from its liquids-rich Kakwa River Project in northwest Alberta. 7G’s corporate office is in Calgary, its operations headquarters is in Grande Prairie and its shares trade on the TSX under the symbol VII. Further information is available on the company’s website: www.7Genergy.com.