Bonavista Energy Corporation Announces Closing of Private Placements of Senior Notes

Bonavista Energy Corporation Announces Closing of Private Placements of Senior 
Notes 
CALGARY, ALBERTA -- (Marketwired) -- 05/24/13 -- Bonavista Energy
Corporation ("Bonavista") (TSX:BNP) is pleased to announce that it
has closed private placements of long-term debt of guaranteed senior
unsecured notes to a group of institutional investors. The notes
issued pursuant to the private placements are ranked equally with
Bonavista's obligations under its bank facility. In total,
approximately $225 million (US $205 million and CDN $20 million) was
raised through four separate series of notes under various terms and
rates as described in the table below: 


 
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Principal Amount       Term                                   Coupon Rate   
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CDN $20.0 million      10 year term, due May 23, 2023         4.09%         
US $85.0 million       10 year term, due May 23, 2023         3.68%         
US $100.0 million      12 year term, due April 25, 2025       3.80%         
US $20.0 million       12 year term, due May 23, 2025         3.78%         
----------------------------------------------------------------------------

 
The notes have a blended coupon rate of 3.78% and a weighted average
term of 11.1 years. Proceeds from the offering were used to repay a
portion of Bonavista's outstanding bank debt. 
In connection with the offering of $125 million of the senior notes,
Citigroup Global Markets Inc. acted as lead placement agent and sole
bookrunner on the offering. 
The senior notes have not and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements. 
Please visit our website at www.bonavistaenergy.com for detailed
corporate information.
Contacts:
Jason E. Skehar
President & CEO
(403) 213-4300 
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300 
Dean Kobelka
Vice President, Finance
(403) 213-4300 
Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
www.bonavistaenergy.com
 
 
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