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Tamarack Valley Energy Announces Closing of First Sustainability-Linked Note Issuance in the North American Oil & Gas Producer Space
Tamarack Valley Energy Announces Closing of First Sustainability-Linked Note Issuance in ...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n \n \n \n Tamarack Valley Energy Announces Closing of First Sustainability-Linked Note Issuance in the North American Oil & Gas Producer Space\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 Tamarack Valley Energy Announces Closing of First Sustainability-Linked Note Issuance in the North American Oil & Gas Producer Space\n \n \n Canada NewsWire\n \n \n \n \n \n TSX: TVE\n \n \n \n \n /NOT FOR PUBLICATION OR DISTRIBUTION IN\n \n THE UNITED STATES\n \n . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n \n \n \n \n CALGARY, AB\n \n ,\n \n Feb. 10, 2022\n \n /CNW/ - Tamarack Valley Energy Ltd. (\"\n \n Tamarack\n \n \" or the \"\n \n Company\n \n \") (TSX: TVE) announces that it has successfully closed the previously announced private placement offering (the \"\n \n Offering\n \n \") of\n \n $200 million\n \n aggregate principal amount of 7.25% senior unsecured sustainability-linked notes due\n \n May 10, 2027\n \n (the \"\n \n Notes\n \n \"). The Company intends to use the net proceeds of the Offering to fund a portion of the purchase price for Tamarack's previously announced acquisition of Crestwynd Exploration Ltd. and repay amounts outstanding under the Company's sustainability-linked credit facility (the \"\n \n SLL Facility\n \n \").\n \n \n \n \n \n \n \n \n \n \n Brian Schmidt\n \n , President and Chief Executive Officer of Tamarack commented, \"we are thrilled be the first oil and gas producer in\n \n North America\n \n to issue a Sustainability-Linked Bond. Tamarack's continued engagement in Sustainability-Linked debt further demonstrates our commitment to transparency and responsible business operations.\"\n \n \n The Notes were offered through a syndicate of underwriters led by National Bank Financial Markets and RBC Capital Markets which acted as Joint-Bookrunners and Sustainability-Linked Bond Structuring Advisors, CIBC Capital Markets which acted as Co-Lead Manager, and ATB Capital Markets, Desjardins Capital Markets, BMO Capital Markets, Peters & Co., Raymond James Ltd. and Stifel F...