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Obsidian Energy Announces Notice of Partial Redemption for $30 Million of Our Outstanding Senior Unsecured Notes
Calgary, Alberta--(Newsfile Corp. - August 18, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE Amer...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Notice of Partial Redemption for $30 Million of Our Outstanding Senior Unsecured NotesCalgary, Alberta--(Newsfile Corp. - August 18, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") today announced that we issued a notice to holders of our 11.95 percent Senior Unsecured Notes due July 27, 2027 (the \"Notes\") of our election to redeem, on a pro rata basis, $30.0 million of the $110.8 million aggregate principal amount of the Notes currently outstanding (the \"Redemption Notice\"). \"The Company's strong balance sheet and liquidity position is enabling us to pay down a portion of our outstanding Notes thereby reducing our go forward interest expense,\" commented Stephen Loukas, Obsidian Energy's President and CEO. As outlined in the Redemption Notice, the redemption date is August 29, 2025 (the \"Redemption Date\") and the Notes will be redeemed based on a redemption price of $1,029.88 per $1,000 principal amount of the redeemed Notes (or 102.988 percent of principal amount), plus accrued and unpaid interest thereon up to, but not including the Redemption Date. The Company intends to use available liquidity to pay the redemption price of the redeemed Notes. All interest on the redeemed Notes shall cease from and after the Redemption Date. Upon completion of the redemption, the Company will have $80.8 million of Notes outstanding and the maximum amount of any semi-annual free cash flow offer required to be made under the trust indenture, which governs the Notes (the \"Indenture\"), will be $17.0 million.Formal notice of redemption is being delivered to the registered holders of the Notes through Computershare Trust Company of Canada (\"Computershare\"), the trustee under the Indenture, in accordance with the Indenture. Registered holders of the Notes may also obtain a copy of the Redemption Notice from Computershare by telephone at 1-800-564-6253 or email at [email protected]. Payment of the redemption price and surrender of the Notes for redemption will be made through Computershare on the Redemption Date.Non-registered holders of Notes should contact their broker or other intermediary for information regarding the redemption process for the Notes in which they hold a beneficial interest.This announcement is ne...