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Tourmaline Oil Corp. Announces Issuance of Senior Unsecured Notes
Tourmaline Oil Corp. Announces Issuance of Senior Unsecured Notes Canada NewsWi...
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"\n \n \n \n Tourmaline Oil Corp. Announces Issuance of Senior Unsecured 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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Aug. 9, 2021\n \n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"\n \n Tourmaline\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has agreed to issue\n \n $200 million\n \n aggregate principal amount of senior unsecured notes due\n \n February 12, 2029\n \n (the \"\n \n Notes\n \n \").  The Notes will be issued at par for aggregate gross proceeds of\n \n $200 million\n \n and will bear interest at a fixed rate of 2.529% per annum, payable semi-annually on the 12\n \n th\n \n day of February and August of each year, commencing on\n \n February 12, 2022\n \n .\n \n \n \n \n \n \n \n \n \n Tourmaline continues its strategy of diversifying its sources of low-cost capital and continuing its progression as one of the largest, most efficient producers of oil and gas in Canada.  The Notes have been assigned a provisional rating of BBB (High), with a stable trend, by DBRS Limited (DBRS Morningstar).\n \n \n The Notes will be direct, unsecured obligations of Tourmaline and will rank equally with all other present and future unsecured and unsubordinated indebtedness of the Company.  The Notes are being offered in\n \n Canada\n \n on a private-placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation (the \"\n \n Offering\n \n \").\n \n \n The Notes, offered on a best-effort...