Obsidian Energy makes offer on notes due July 27, 2027

Executive Summary

• Obsidian Energy Ltd. has launched a cash offer to purchase up to $48.4 million of its outstanding 11.95% senior unsecured notes due July 27, 2027.
• The offer price is set at $1,030 per $1,000 principal amount of notes, plus accrued and unpaid interest.
• The offer expires on August 12, 2025, with settlement expected on August 15, 2025.

Key Details

• Transaction Type: Cash offer to purchase senior unsecured notes.
• Maximum Purchase Consideration: Up to $48.4 million.
• Notes Subject to Offer: 11.95% senior unsecured notes due July 27, 2027.
• ISINs: CA674482AA25 (restricted), CA674482AB08 (144A), and CA674482AC80 (Regulation D).
• CUSIPs: 674482AA2 (restricted), 674482AB0 (144A), and 674482AC8 (Regulation D).
• Outstanding Principal (as of July 31, 2025): $112.2 million.
• Cash Consideration: $1,030 per $1,000 principal amount of notes.
• Interest: Accrued and unpaid interest up to, but not including, the settlement date.
• Settlement Date: Expected to occur on August 15, 2025.
• Offer Expiry: 5 p.m. Eastern Daylight Time on August 12, 2025 (unless extended).
• Proration: If the aggregate purchase price exceeds the maximum consideration, notes will be accepted on a pro rata basis.
• Conditions: The offer is not conditional on any minimum amount of notes being tendered.
• Tender Agent: Computershare Investor Services Inc.

Notable Quotes

• None provided in the text.