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Tamarack Valley Energy Announces Issuance and Pricing of $200 Million Senior Unsecured Sustainability-Linked Notes
Tamarack Valley Energy Announces Issuance and Pricing of $200 Million Senior Unsecured Su...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n \n \n \n Tamarack Valley Energy Announces Issuance and Pricing of $200 Million Senior Unsecured Sustainability-Linked Notes\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CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: TVE\n \n \n \n \n /NOT FOR PUBLICATION OR DISTRIBUTION IN\n \n THE UNITED STATES\n \n .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. 2, 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 entered into an underwriting agreement to sell, on a private placement basis, $200 million 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 Notes will be issued at par under a trust indenture and will be general unsecured obligations of Tamarack ranking pari passu with all of the Company's existing and future senior unsecured indebtedness (the \"\n \n Offering\n \n \"). Closing of the Offering is expected to occur on or about February [\n \n 10\n \n ], 2022, subject to satisfaction of customary closing conditions.\n \n \n \n \n \n \n \n \n \n Subject to completion of the Offering, Tamarack 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 \"). The Notes will eliminate the requirement for the previously announced separate and additional\n \n $100 million\n \n credit facility from the existing syndicate.\n \n \n The Notes are being issued in accordance with Tamarack's Sustainability-Linked Bond Framework (the \"\n \n SLB\n \n \n Framework\n \n \"), which sets out certain sustainability performance targets (\"\n \n SPTs\n \n \") that are aligned with Tamarack's overall corporate sustainability strategy and previous SLL Facility, includ...