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Obsidian Energy Completes Offer to Purchase $5.0 Million of Its Outstanding Senior Unsecured Notes
Calgary, Alberta--(Newsfile Corp. - August 17, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE Amer...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Completes Offer to Purchase $5.0 Million of Its Outstanding Senior Unsecured NotesCalgary, Alberta--(Newsfile Corp. - August 17, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") today announced completion of its previously announced offer (the \"Offer\") to purchase for cash, up to an aggregate amount of $5.0 million of our outstanding 11.95 percent Senior Unsecured Notes due July 27, 2027 (the \"Notes\"). The Offer expired on August 14, 2023, and was made on the terms and subject to the conditions set forth in the Offer to Purchase dated August 3, 2023 (the \"Statement\"). The Offer was oversubscribed, with approximately $72.5 million aggregate principal amount of Notes validly tendered prior to 5:00 p.m., EDT, on August 14, 2023. The aggregate purchase consideration paid by the Company pursuant to the Offer was $5.0 million (approximately, due to rounding), resulting in a proration of the Notes validly tendered. Notes were accepted for purchase and cancellation only in principal amounts equal to minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes that were accepted and prorated pursuant to the Offer were rounded up or down to the nearest $1,000. Holders who tendered less than all of their Notes must not hold Notes in less than the minimum authorized denomination of $2,000 principal amount as a result of the Offer. Settlement of the Offer was completed by the Company today. Holders will receive payment for the accepted Notes as soon as practicable, in accordance with the terms of the Statement. Computershare Investor Services Inc. served as the tender agent for the Offer. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.All figures are in Canadian dollars unless otherwise stated.ADDITIONAL READER ADVISORIESFORWARD-LOOKING STATEMENTS This news release contains forward-looking statements or information (collectively \"forward-looking statements\") within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\", \"objective\", \"o...