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Vermilion Energy Inc. Announces Proposed Issuance of US$400 Million Senior Unsecured Notes
Vermilion Energy Inc. Announces Proposed Issuance of US$400 Million Senior Unsecured Notes ...
About this update from Vermilion Energy Inc.
[{"type":"text","content":"\n\n\n\n Vermilion Energy Inc. Announces Proposed Issuance of US$400 Million 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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Jan. 28, 2025\n \n\n /CNW/ - Vermilion Energy Inc. (\"Vermilion\" or the \"Company\") (TSX: VET) (NYSE: VET) announces its intention to issue up to\n \n US$400 million\n \n aggregate principal amount of eight-year senior unsecured notes (the \"New Notes\") in a private offering to qualified institutional buyers (the \"Offering\"), subject to market and other conditions. The Company intends to use the net proceeds from the New Notes, at its option, to (a) redeem or repay the outstanding amount of the Company's existing 5.625% senior notes due 2025 (the \"Existing Vermilion Notes\") prior to or at their maturity date thereof, (b) fund a portion of the purchase price of the acquisition of Westbrick Energy Ltd. (the \"Westbrick Acquisition\"), (c) pay transaction fees and other costs associated with the redemption or repayment of the Existing Vermilion Notes and the Westbrick Acquisition, as applicable, (d) repay a portion of the outstanding borrowings under our credit facilities related to any of the foregoing; or (e) any combination of the foregoing.\n \n\n\n\n\n\n\n\n\n The New Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (\"U.S. Securities Act\") or applicable state securities laws, and may not be offered or sold in\n \n the United States\n \n absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The New Notes have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the New Notes in\n \n Canada\n \n will be made on a basis which is exempt from the prospectus requirements of such securities laws. Pursuant to the terms of the offering, the New Notes will be offered and sold only on a prospectus-exempt basis to institutio...