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Crown Point Announces Placement of US$22.0 Million of Series VI Notes
Crown Point Announces Placement of US$22.0 Million of Series VI Notes Canada NewsWire ...
About this update from Crown Point Energy, Inc.
[{"type":"text","content":"\n\n\n\n Crown Point Announces Placement of US$22.0 Million of Series VI Notes\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n CWV: TSX.V\n \n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Oct. 29, 2024\n \n\n /CNW/ - (TSXV: CWV) Crown Point Energy Inc. (\"\n \n Crown Point\n \n \", the \"\n \n Company\n \n \" or \"\n \n we\n \n \") is pleased to announce that its wholly-owned Argentine subsidiary, Crown Point Energía S.A. (\"\n \n CPE\n \n \"), has placed a total of\n \n US$22.0 million\n \n principal amount of Series VI secured fixed-rate notes (\"\n \n Series VI Notes\n \n \"), to be issued on\n \n October 30, 2024\n \n , which are denominated in US$ and payable in US$ (the \"\n \n Offering\n \n \").\n \n\n The total principal amount of the Series VI Notes will be repaid in three equal installments starting on\n \n October 30, 2026\n \n and the last installment will be payable on\n \n October 30, 2027\n \n . The Series VI Notes accrue interest at a fixed rate of 9.50% per annum, payable every six months in arrears from the issue date. The Series VI Notes will be secured with a pledge on crude oil sales collections from the Piedra Clavada and Koluel Kaike concessions following their acquisition by the Company.\n \n\n The net proceeds from the Offering will be used for general corporate purposes and to make investments in the development of assets in\n \n Argentina\n \n .\n \n\n The Offering was made pursuant to CPE's Negotiable Obligations Issuance Global Program for up to\n \n US$75 million\n \n (or its equivalent in other currencies) established by CPE's base prospectus dated\n \n July 25, 2024\n \n , as supplemented by prospectus supplement dated\n \n October 23, 2024\n \n , copies of which can be found in Spanish on the Financial Information Highway on the CNV website (\n \n https://www.argentina.gob.ar/cnv\n \n ), on the primary placements micro-website (MPMAE) of the Mercado Abierto Electrónico S.A. (\"\n \n MAE\n \n \"), and in the Bolsas y Mercados Argentinos S.A.'s and...