InPlay Oil completes $242-million bond offering

Executive Summary

• InPlay Oil Corp. has completed a $242 million bond offering consisting of 550 million Israeli shekels (NIS) in senior unsecured bonds.
• The bonds are listed on the Tel Aviv Stock Exchange (TASE) and are scheduled to commence trading on February 11, 2026.
• Net proceeds will be used primarily to repay an existing $110 million term loan, temporarily reduce amounts drawn on a revolving credit facility, and cover transaction expenses.

Key Details

• Transaction Size: $242 million principal amount (550 million NIS).
• Instrument: Senior unsecured bonds.
• Interest Rate: 6.23% per annum.
• Maturity Date: December 15, 2030.
• Payment Terms: Interest payable semi-annually; principal and interest not linked to Canadian dollars.
• Amortization Schedule: Three amortization payments of 6% of the principal amount due on December 15 of 2027, 2028, and 2029.
• Redemption: InPlay may redeem bonds in full or in part at its sole discretion, no earlier than 60 days after listing on TASE.
• Use of Proceeds:
  • Repayment of $110 million two-year amortizing term loan ($93.0 million outstanding as of Dec 31, 2025).
  • Temporary, non-permanent reduction of amounts drawn under the ~$190 million revolving credit facility ($129.1 million outstanding as of Dec 31, 2025).
  • Payment of transaction expenses and/or general corporate purposes.
• Listing Information:
  • Exchange: Tel Aviv Stock Exchange (TASE).
  • Common Shares Symbol: IPO.
  • Bonds Symbol: IPO.B1.
  • Trading Commencement Date: February 11, 2026.
• Hedging Strategy: Company intends to be proactive in hedging exposure to fluctuations between the Canadian dollar and NIS.

Notable Quotes

• No direct quotes from management were included in the provided text.