Obsidian Energy completes offer to purchase notes

Executive Summary

• Obsidian Energy Ltd. completed its previously announced offer to purchase its outstanding 11.95% senior unsecured notes due July 27, 2027.
• The offer was undersubscribed, with only approximately $1.4 million of notes tendered out of the maximum $48.4 million offered.
• Following the settlement of this repurchase, the company has $110.8 million of these notes remaining outstanding.

Key Details

• Transaction Type: Cash offer to purchase senior unsecured notes.
• Offer Terms: The offer was for up to an aggregate amount of $48.4 million of the 11.95% senior unsecured notes due July 27, 2027.
• Expiration Date: August 12, 2025.
• Tendered Amount: Approximately $1.4 million in aggregate principal amount of notes were validly tendered.
• Purchase Consideration: The company paid approximately $1.4 million for the accepted notes.
• Denomination Rules: Notes were accepted in minimum denominations of $2,000 and integral multiples of $1,000. Accepted/prorated amounts were rounded to the nearest $1,000.
• Post-Transaction Balance: Upon completion, $110.8 million of the notes remain outstanding.
• Settlement: Settlement was completed on the date of the release; holders will receive payment as soon as practicable.
• Tender Agent: Computershare Investor Services Inc. served as the tender agent.

Notable Quotes

• None provided in the text.