NuVista Energy Ltd. Announces Proposed Issuance of $200 Million of Senior Unsecured Notes
12 Juli 2021 - 2:49PM
NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA)
announced today that it intends to undertake, subject to market and
other conditions, a proposed private placement of senior unsecured
notes (the "Notes") in the amount of $200 million (the "Offering").
Subject to the completion of the Offering, NuVista intends to use
the net proceeds of the Offering, together with borrowings under
its credit facility, 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,
which is expected to be completed shortly after closing of the
Offering.
CIBC Capital Markets and RBC Capital Markets are
acting as joint bookrunners for the Offering.
The Notes will not be qualified for distribution
to the public under the securities laws of any province or
territory of Canada and will only be offered in Canada and in the
United States pursuant to applicable private placement
exemptions.
This release is not an offer of securities of
the Company for sale in the United States. The Notes 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: |
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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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