Business
Tamarack Valley Energy Announces Issuance and Pricing of Upsized $100 Million 7.25% Senior Unsecured Sustainability-Linked Notes due 2027
Tamarack Valley Energy Announces Issuance and Pricing of Upsized $100 Million 7.25% Senio...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n \n \n \n Tamarack Valley Energy Announces Issuance and Pricing of Upsized $100 Million 7.25% Senior Unsecured Sustainability-Linked Notes due 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CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR PUBLICATION OR DISTRIBUTION IN\n \n THE UNITED STATES\n \n .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 CALGARY, AB\n \n ,\n \n Sept. 12, 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 (the \"\n \n Private Placement\n \n \"), $100 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\n \n $940\n \n per\n \n $1,000\n \n principal amount thereof (plus accrued interest from and including\n \n May 10, 2022\n \n to but excluding the closing date of the Private Placement) under the trust indenture pursuant to which Tamarack previously issued\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 , as supplemented by a supplemental indenture to be dated as of the closing date of the Private Placement, and will form a single series with such previously issued notes. Closing of the Private Placement is expected to occur on or about\n \n September 22, 2022\n \n , subject to satisfaction of customary closing conditions.\n \n \n Subject to completion of the Private Placement, Tamarack intends to use the net proceeds of the Private Placement to fund a portion of the purchase price for its previously announced acquisition of DeltaStream Energy Corporation (the \"\n \n Acquisition\n \n \").\n \n \n The Notes are being issued in accordance with Tamarack's Sustainability-Linked Bond Framework (the \"\n \n SLB Framework\n \n \"), which sets out certain sus...