Vermilion Energy (VET) said Tuesday it intends to issue up to $400 million total principal amount of eight-year senior unsecured notes in a private offering.
The company plans to use the net proceeds to redeem or repay the outstanding amount of its current 5.625% senior notes due 2025, finance a part of the purchase price to acquire Westbrick Energy, and repay outstanding debt under its credit facilities, it added.
Shares of Vermilion were down 1% in recent trading.
Price: 9.49, Change: -0.10, Percent Change: -1.04
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