Mr. Grant Fagerheim reports
WHITECAP RESOURCES ANNOUNCES $300 MILLION OFFERING OF SENIOR NOTES
Whitecap Resources Inc. has priced an offering of $300-million principal amount of 3.761 per cent senior unsecured notes due June 19, 2028. The net proceeds will be used to repay existing indebtedness and for general corporate purposes.
Whitecap's investment-grade credit rating was recently upgraded to BBB, with a stable trend, issued by DBRS Inc., reflecting its improved credit profile. The notes have also been assigned a provisional rating of BBB, with a stable trend, by Morningstar DBRS.
The notes will be direct, unsecured obligations of the company and will rank equally with all other present and future unsecured and unsubordinated indebtedness of the company. The notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.
The notes are being offered through a syndicate of agents including CIBC World Markets Inc., RBC Dominion Securities Inc., ATB Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc. and Merrill Lynch Canada Inc. The notes are expected to be issued on or about June 19, 2025, subject to customary closing conditions.
We seek Safe Harbor.
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