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Frontera Prices Oversubscribed and Upsized US$400 Million Senior Unsecured Notes Offering at 7.875%
Frontera Prices Oversubscribed and Upsized US$400 Million Senior Unsecured Notes Offering...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Prices Oversubscribed and Upsized US$400 Million Senior Unsecured Notes Offering at 7.875%\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.prntac{\nTEXT-ALIGN: CENTER\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 OVERWHELMING SUPPORT FOR OFFERING FROM GLOBAL INSTITUTIONAL INVESTOR BASE\n \n \n \n \n TORONTO\n \n ,\n \n June 10, 2021\n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announced today that it has successfully priced an oversubscribed and upsized offering of\n \n US$400 million\n \n in senior unsecured notes due 2028 at a coupon rate of 7.875% (the \"\n \n 2028 Notes\n \n \") pursuant to Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended, (the \"\n \n Act\n \n \"), with closing expected to occur on or about\n \n June 21, 2021\n \n . However, there can be no assurances that the issuance and sale of the 2028 Notes will be consummated.\n \n \n The proceeds from the offering will be used to (i) repurchase the Company's U.S.\n \n $350 million\n \n 9.70% senior secured notes due 2023 pursuant to a tender offer, at a premium of 104.85% per\n \n $1,000\n \n principal amount of notes (ii) pay accrued and unpaid interest on the same notes, and (iii) for general corporate purposes. The 2028 Notes have been assigned a rating of B+ by S&P Global Ratings with a Stable Outlook and a rating of B with a Stable Outlook by Fitch Ratings.*\n \n \n This press release is neither an offer to sell nor a solicitation of an offer to buy the 2028 Notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.\n \n \n The 2028 Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in\n \n the United S...