CALGARY, AB – (ARX – TSX) ARC Resources Ltd. (“ARC” or the “Company”) announced today it has successfully closed its previously announced offering of Cdn$1.0 billion aggregate principal amount of senior unsecured notes (the “Offering”), consisting of Cdn$450 million aggregate principal amount of 2.354% Senior Unsecured Notes, Series 1 due 2026 (the “Series 1 Notes”) and Cdn$550 million aggregate principal amount of 3.465% Senior Unsecured Notes, Series 2 due 2031 (the “Series 2 Notes”, together with the Series 1 Notes, the “Notes”). DBRS Morningstar has assigned a provisional rating of BBB with a stable trend to the Notes assuming the successful completion of the business combination with Seven Generations Ltd. announced on February 10, 2021.
The Notes were offered through a syndicate of agents co-led by RBC Capital Markets and CIBC Capital Markets.
The Notes were not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and were not offered or sold in the United States. The Notes were offered only to persons outside the United States in compliance with Regulation S under the U.S. Securities Act. In Canada, the Notes were offered and sold on a private placement basis to “accredited investors” in certain provinces of Canada. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation, or sale in the United States or any jurisdiction in which such an offer, solicitation, or sale would be unlawful. This news release does not constitute an offer to purchase the Notes.
Advisory – Credit Ratings
Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold, or sell securities and do not address the market price or suitability of a specific security for a particular investor. There is no assurance that any rating will remain in effect for any given period of time or that any rating will not be revised or withdrawn entirely by the rating agency in the future if, in its judgment, circumstances so warrant.
About ARC
ARC is one of Canada’s largest energy companies and its common shares trade on the TSX under the symbol ARX.
For further information about ARC Resources Ltd., please visit ARC’s website at www.arcresources.com or contact Investor Relations:
E-mail: IR@arcresources.com
Telephone: (403) 503-8600
Fax: (403) 509-6427
Toll Free: 1-888-272-4900
ARC Resources Ltd.
Suite 1200, 308 – 4th Avenue SW
Calgary, AB T2P 0H7 29dk2902l