CALGARY, March 7 /PRNewswire-FirstCall/ - MEG Energy Corp.
("MEG") (TSX: MEG) today announced that it is planning to commence,
subject to market and other conditions, a private offering of
US$500 million in aggregate principal
amount of senior unsecured notes due in 2021. MEG intends to use
the net proceeds from the proposed note offering for general
corporate purposes, which may include capital expenditures and
repayment of existing indebtedness.
The senior notes to be offered by MEG will not be registered
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The senior
notes are being offered only to qualified institutional buyers in
the United States under Rule 144A
and outside the United States in
compliance with Regulation S under the Securities Act. In
Canada, the notes are to be
offered and sold on a private placement basis in certain provinces
of Canada.
This press 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 any jurisdiction in
which such an offer, solicitation, or sale would be unlawful.
About MEG
MEG is focused on sustainable in situ oil sands development and
production in the southern Athabasca region of Alberta, Canada. MEG is actively developing
enhanced oil recovery projects that utilize SAGD extraction
methods.
Caution Regarding Forward-Looking Information
This news release may contain forward-looking information
including but not limited to the offering of senior notes by MEG
and the use of proceeds therefrom. Such forwardlooking information
is based on certain assumptions and analysis made by MEG in light
of its experience and perception of current conditions and expected
future developments as well as other factors it believes are
appropriate in the circumstances. However, whether actual results,
performance or achievements will conform to MEG's expectations and
predictions is subject to a number of known and unknown risks and
uncertainties which could cause actual results to differ materially
from MEG's expectations. Other factors which could materially
affect such forward-looking information are described in the risk
factors detailed in the offering documentation prepared and
delivered by MEG in connection with the note offering.
SOURCE MEG Energy Corp.