Business
ARC Resources Ltd. Announces US$150 Million of Private Placement Notes
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UN...
About this update from Arc Resources Ltd.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Sept. 25, 2014 /CNW/ - (ARX - TSX)  ARC Resources Ltd. (\"ARC\") announced today it closed a private\n placement (the \"Private Placement\") of US$150 million of long-term debt\n in the form of senior unsecured notes (the \"Notes\"), under its Master\n Shelf Agreement with Prudential Capital Group. Concurrently, ARC\n upsized the Master Shelf Agreement from US$225 million to US$350\n million and extended the term for an additional three years commencing\n September 25, 2014.\n\n\nThe US$150 million Notes have a 12 year amortization term with a ten\n year average life and a fixed-rate coupon of 3.72%. The Notes are\n unsecured and rank equally with ARC's bank credit facility and other\n outstanding senior notes. Proceeds from the Notes will be used to pay\n down indebtedness under ARC's credit facility.\n\n\nThe Notes being issued pursuant to the Private Placement have not been\n and will not be registered under the United States Securities Act of\n 1933, as amended (the \"Securities Act\") and may not be offered or sold\n in the United States absent registration or an applicable exemption\n from the registration requirements of the Securities Act.\n\n\nForward-looking Information and Statements\n\n\nThis news release contains certain forward-looking information and\n statements within the meaning of applicable securities laws.  The use\n of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\",\n \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"believe\",\n \"plans\", \"intends\", \"strategy\" and similar expressions are intended to\n identify forward-looking information or statements.  In particular, but\n without limiting the foregoing, this news release contains\n forward-looking information and statements pertaining to the use of\n proceeds from the Private Placement and ARC's future production.\n\n\nThe forward-looking information and statements contained in this news\n release reflect material factors and expectations and assumptions of\n ARC including, without limitation: that ARC will continue to conduct\n its operations in a manner consistent with past operations; the general\n continuance of current industry conditions; the continuance of ex...