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Obsidian Energy Announces Launch of an Offer to Purchase up to $48.4 Million of Our Outstanding Senior Unsecured Notes
Calgary, Alberta--(Newsfile Corp. - July 31, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE Americ...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Launch of an Offer to Purchase up to $48.4 Million of Our Outstanding Senior Unsecured NotesCalgary, Alberta--(Newsfile Corp. - July 31, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") today announced that we have commenced an offer (the \"Offer\") to purchase for cash, up to an aggregate amount of $48.4 million (the \"Maximum Purchase Consideration\") of our outstanding 11.95 percent Senior Unsecured Notes due July 27, 2027, ISINs CA674482AA25 (Restricted), CA674482AB08 (144A) and CA674482AC80 (Regulation D), CUSIP Nos. 674482AA2 (Restricted), 674482AB0 (144A) and 674482AC8 (Regulation D) (the \"Notes\"), as disclosed in our second quarter 2025 results. As of July 31, 2025, $112.2 million aggregate principal amount of Notes were outstanding. The Offer is being made pursuant to an offer to purchase (the \"Offer to Purchase\") and a related letter of transmittal, each dated July 31, 2025, and a notice of guaranteed delivery. The Offer will expire at 5:00 p.m., Eastern Daylight Time, on August 12, 2025, unless extended. Tendered Notes may be withdrawn at any time before the expiry of the Offer.Subject to possible proration as described in the Offer to Purchase, holders of Notes that are validly tendered and accepted at or prior to the expiry of the Offer, or who deliver to the tender agent a properly completed and duly executed notice of guaranteed delivery and subsequently deliver such Notes, each in accordance with the instructions described in the Offer to Purchase, will receive total cash consideration of $1,030 per $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the settlement date, which is expected to occur on August 15, 2025.The consummation of the Offer and the Company's obligation to accept for purchase, and to pay for, Notes validly tendered (and not validly withdrawn) pursuant to the Offer are subject to the satisfaction of or waiver of certain conditions as set forth in the Offer to Purchase. The Offer is not conditional on any minimum amount of Notes being tendered. Obsidian Energy may amend, extend or terminate the Offer, or increase the Maximum Purchase Consideration, at its sole discretion. If the aggregate purchase price for Notes validly tendered (and not valid...