Baytex Energy Announces US$500 Million Senior Note Financing

Baytex Energy Corp (TSX: BTE) has announced it will be issuing a private placement of senior unsecured debt securities which will be sold to qualified buyers in the United States, as well as some provinces in Canada.

The aggregate principal amount of the notes is set at $500 million USD, and will be due in 2027. Interest will be paid to security holders semi-annually in arrears. Additional details regarding the interest rate and final pricing will be announced at a later date.

Baytex has also previously issued a principal amount of $400 million USD and $300 million USD in debt securities which are due in the beginning of June 2021 and July 2022, respectively. The company plans to redeem all remaining 2021 and 2022 debt securities through the announcement of a notice of redemption, which will be conditional upon the offering being completed.

Baytex Energy Corp. is a Canadian gas and oil company located in Calgary, Alberta. The company’s main focus is obtaining, developing, as well as producing natural gas and crude oil. Baytex has resource extraction facilities located in Western Canada as well as the United States.

Baytex Energy Corp. is currently trading at $1.79 on the TSX.


Information for this briefing was found via Sedar and Baytex Energy Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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