CALGARY,
AB, April 26, 2022 /CNW/ - Vermilion Energy
Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET)
(NYSE: VET) announces the closing of our previously announced
private offering (the "Offering") of US$400
million aggregate principal amount of 8-year senior
unsecured notes (the "New Notes"), which were priced at 99.241% of
par. The New Notes mature on May 1,
2030 and have a fixed coupon of 6.875% per annum, paid
semi-annually on May 1 and
November 1, commencing November 1, 2022. The Company has given
irrevocable notices to the lenders of its revolving credit facility
that it will use the net proceeds from the New Notes to reduce the
amount outstanding on the revolving credit facility.
Contemporaneous with the closing of the New Notes, the maturity
date of Vermilion's revolving credit facility was extended to
May 29, 2026 (from May 31, 2024) and the total facility amount was
reduced to Vermilion's targeted level of $1.6 billion (from $2.1
billion).
The New Notes have not been and will not be registered under the
U.S. Securities Act of 1933, as amended ("U.S. Securities Act"), or
applicable state securities laws, and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state
securities laws. The New Notes have not been and will not be
qualified for sale to the public under applicable Canadian
securities laws and, accordingly, any offer and sale of the New
Notes in Canada will be made on a
basis which is exempt from the prospectus requirements of such
securities laws. Pursuant to the terms of the Offering, the New
Notes will be offered and sold only on a prospectus-exempt basis to
institutional "accredited investors" in certain provinces in
Canada and, in the United States, will be offered and sold
only to "qualified institutional buyers" in reliance on Rule 144A
under the U.S. Securities Act and to certain non-U.S. persons in
transactions outside the United
States in reliance on Regulation S under the U.S. Securities
Act.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security in any jurisdiction
and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offering, solicitation
or sale would be unlawful.
About Vermilion
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing assets in North
America, Europe and
Australia. Our business model
emphasizes free cash flow generation and returning capital to
investors when economically warranted, augmented by value-adding
acquisitions. Vermilion's operations are focused on the
exploitation of light oil and liquids-rich natural gas conventional
resource plays in North America
and the exploration and development of conventional natural gas and
oil opportunities in Europe and
Australia.
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SOURCE Vermilion Energy Inc.