Baytex Announces Cash Tender Offer for 2032 Senior Notes and Intent to Redeem 2030 Senior Notes

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[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - December 1, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") today announced the commencement of steps to apply a portion of the net proceeds from its previously announced divestiture of its U.S. Eagle Ford assets (the "Eagle Ford Asset Sale").","length":340,"tagName":"p"},{"type":"text","content":"Cash Tender Offer for 2032 Senior Notes","length":39,"tagName":"p"},{"type":"text","content":"Baytex today announced the commencement of a tender offer (the "Tender Offer") to purchase for cash, upon the terms and conditions set forth in the Offer to Purchase dated December 1, 2025 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), any and all of its US$575 million of outstanding 7.375% Senior Notes due 2032 (the "2032 Notes"). The consideration in the Tender Offer will be paid from a portion of the net proceeds from, and the Tender Offer is conditioned upon, among other things, the completion of the Eagle Ford Asset Sale. Capitalized terms used in this news release and not defined herein have the meanings given to them in the Offer to Purchase.","length":723,"tagName":"p"},{"type":"text","content":"The table below summarizes certain payment terms for the Tender Offer:","length":70,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"style":"width:14.3%;text-align:center;vertical-align:bottom;font-size:10px;","val":[{"type":"text","content":"Title of Note","length":13,"tagName":"p","attribs":{}}]},{"style":"width:14.3%;vertical-align:bottom;text-align:center;font-size:10px;","val":[{"type":"text","content":"CUSIP / ISIN (144A)","length":25,"tagName":"p","attribs":{}}]},{"style":"width:14.3%;vertical-align:bottom;text-align:center;font-size:10px;","val":[{"type":"text","content":"CUSIP / ISIN (Reg S) ","length":26,"tagName":"p","attribs":{}}]},{"style":"width:14.3%;vertical-align:bottom;text-align:center;font-size:10px;","val":[{"type":"text","content":"PrincipalAmountOutstanding","length":28,"tagName":"p","attribs":{}}]},{"style":"width:14.3%;vertical-align:bottom;text-align:center;font-size:10px;","val":[{"type":"text","content":"Tender OfferConsideration(1)(2)","length":33,"tagName":"p","attribs":{}}]},{"style":"width:14.3%;vertical-align:bottom;text-ali...

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