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Athabasca Oil Corporation Announces Pricing of C$550 million of Senior Secured Second Lien Notes
/ NOT FOR DISSEMINATION IN THE UNITED STATES/ CALGARY, Nov. 9, 2012 /CNW/ - Athabasca ...
About this update from Athabasca Oil Corporation
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Nov. 9, 2012 /CNW/ - Athabasca Oil Corporation (TSX: ATH) is\n pleased to announce the pricing of its previously announced offering of\n Senior Secured Second Lien Notes.  Athabasca will issue $550 million\n Senior Secured Second Lien Notes at par, which will bear interest at a\n rate of 7.50% per annum and will mature on November 19, 2017. The Notes\n were offered in each of the Provinces of Canada and in the United\n States on a private placement basis through a syndicate of underwriters\n led by TD Securities Inc. and GMP Securities L.P. The completion of the\n offering is anticipated to occur on November 19, 2012, and is subject\n to customary closing conditions.\n\n\nAs previously announced, the Company is also negotiating senior secured\n first lien revolving credit facilities with a syndicate of financial\n institutions. The revolving credit facilities are anticipated to be\n initially on the order of C$150 million.\n\n\nAthabasca intends to use the net proceeds from the private placement and\n the credit facilities for general corporate purposes, including the\n advancement of its thermal oil projects in Athabasca and the\n development of its light oil assets including in Kaybob and\n Saxon/Placid. The note offering and credit facilities are intended to\n provide Athabasca with additional liquidity and flexibility to fund and\n possibly expand its future capital expenditure programs.\n\n\nThis news release does not constitute an offer of any security for sale\n in the United States or in any jurisdiction in which such an offer,\n solicitation, or sale would be unlawful. The notes will not be\n registered under the United States Securities Act of 1933, as amended\n (the \"U.S. Securities Act\") or the securities laws of any state, and\n may not be offered or sold in the United States absent registration or\n an applicable exemption from registration requirements. The notes will\n be offered and sold in Canada, on a private placement basis pursuant to\n available prospectus exemptions.  The notes may be offered in the\n United States only to \"qualified institutional buyers\" (as defined in\n Rule 144A (\"Rule 144A\") under the U.S. Securities Act) in reliance on\n Rule 144A under the U.S. Securities Act and outside the United States\n in reli...