HOUSTON, TEXAS (Editors at Energy Analytics Institute, 28.Jan.2025) — Vermilion Energy Inc. announced the pricing of its previously announced private offering of up to $400mn of 8-year senior unsecured notes.
The new notes will have a maturity date of 15 Feb. 2033 and a fixed coupon of 7.250% per annum, to be paid semi-annually. The offering of the new notes is expected to close on or about 11 Feb. 2025, subject to customary closing conditions.
Vermilion 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 prior to or at their maturity date thereof,
(b) fund a portion of the purchase price of the acquisition of Westbrick Energy Ltd.,
(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.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
