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Frontera Announces Closing of Offering of U.S.$400 Million 7.875% Senior Unsecured Notes Due 2028
Frontera Announces Closing of Offering of U.S.$400 Million 7.875% Senior Unsecured Notes ...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Announces Closing of Offering of U.S.$400 Million 7.875% Senior Unsecured Notes Due 2028\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n //NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n //\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 21, 2021\n \n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \"), announced today that it completed its previously announced offering of U.S.\n \n $400 million\n \n in senior unsecured notes due 2028 at a coupon rate of 7.875% (the \"\n \n Notes\n \n \").\n \n \n \n Gabriel de Alba\n \n , Chairman of the Board of Directors, commented:\n \n \n \n \n \"The overwhelming success of this offering demonstrates the confidence the global capital markets have in Frontera's strategy and their support of management to execute it. The Company's refinancing process attracted high quality institutional investors who recognized the Company's focus on a strong credit profile and sustainable balance sheet. Looking ahead, Frontera will remain committed to delivering value-focused production and cash flow from across our proven and diverse asset base while continuing to drive costs out of the system, improving efficiencies and operating in an ethically, socially and environmentally responsible way.\"\n \n \n \n \n \n Orlando Cabrales\n \n , Chief Executive Officer of Frontera, commented:\n \n \n \"\n \n This has been an important few weeks for Frontera as we re-engaged with the global bond market investor community. Through the completion of this financing, we lowered our coupon from 9.7% to 7.875%, negotiated a significantly improved covenant and guarantors package, increased the size of the bond from\n \n $350\n \n to\n \n $400 million\n \n , extended our debt maturity profile to seven years, and successfully priced a multiple times oversubscribed offering that attracted high quality investors. I would like to thank Frontera's Management team for their efforts in delivering such a succe...