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Tamarack Valley Energy Announces Closing of Issuance of $325MM, Five-Year Senior Unsecured Notes due in 2030 and Partial Redemption of its Existing $300MM Unsecured Notes due in 2027
Tamarack Valley Energy Announces Closing of Issuance of $325MM, Five-Year Senior Unsecured Notes ...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n\n\n\n Tamarack Valley Energy Announces Closing of Issuance of $325MM, Five-Year Senior Unsecured Notes due in 2030 and Partial Redemption of its Existing $300MM Unsecured Notes due in 2027\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CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR PUBLICATION OR DISTRIBUTION IN\n \n THE UNITED STATES\n \n .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 TSX: TVE\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n July 25, 2025\n \n\n /CNW/ - Tamarack Valley Energy Ltd. (\"\n \n Tamarack\n \n \" or the \"\n \n Company\n \n \") (TSX: TVE) is pleased to announce that it has successfully closed the previously announced private placement offering (the \"\n \n Offering\n \n \") of\n \n $325\n \n .0MM aggregate principal amount of 6.875% senior unsecured notes due\n \n July 25, 2030\n \n (the \"\n \n 2030 Notes\n \n \").\n \n\n\n\n\n\n\n\n\n Tamarack utilized approximately\n \n $216\n \n .4MM of the net proceeds to repay a portion of the Company's credit facility with the remaining net proceeds utilized to redeem a portion of Tamarack's outstanding\n \n $300\n \n .0MM 7.25% interest-bearing senior unsecured notes due\n \n May 10, 2027\n \n (the \"\n \n 2027 Notes\n \n \") The partial redemption of the 2027 Notes was completed on\n \n July 25, 2025\n \n at the applicable call premium of 102% to par, plus accrued and unpaid interest.\n \n\n The 2030 Notes were offered through a syndicate of underwriters led by National Bank Financial Markets and RBC Capital Markets which acted as Joint-Bookrunners, CIBC Capital Markets and ATB Capital Markets which acted as Co-Lead Managers, and Peters & Co., Desjardins Capital Markets and\n \n Raymond James\n \n , which acted as co-managers.\n \n\n The 2030 Notes were offered for sale in each of the Provinces of\n \n Canada\n \n to \"accredited investors\" on a private placement basis in accordance with Canadian securities laws, were not qualified for sale to the public under Canadian securities laws and accordingly, any offe...