MEG Energy announces the closing of its offering of additional 7.0% Senior
Notes due 2024
CALGARY, Nov. 6, 2013 /CNW/ - MEG Energy Corp. announced today that it has
closed its previously announced offering of US $200 million in aggregate
principal amount of additional 7.0% senior notes due 2024 (the "New Notes").
The New Notes were issued at a price of 101.0% of par to yield 6.83%.
The New Notes are an additional issuance of notes under the indenture, dated
as of October 1, 2013, among MEG, MEG Energy (U.S.) Inc. and Wilmington Trust,
National Association, as trustee, pursuant to which MEG previously issued a
total of US $800 million in aggregate principal amount of its 7.0% senior
notes due 2024 (the "Prior Notes"). The New Notes are treated as a single
series with, have substantially the same terms as, and trade fungibly with,
the Prior Notes.
The New Notes have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements. The New Notes were offered only to
qualified institutional buyers in the United States under Rule 144A and
outside the United States in compliance with Regulation S under the U.S.
Securities Act. In Canada, the New Notes were offered on a private placement
basis in certain provinces of Canada.
This news release does not constitute an offer to sell, or a solicitation of
an offer to buy, any security and shall not constitute an offer, solicitation
or sale in any jurisdiction in which such an offer, solicitation, or sale
would be unlawful.
This news release may contain forward-looking information. Such
forward-looking information is based on certain assumptions and analysis made
by MEG in light of its experience and perception of current conditions and
expected future developments, as well as other factors it believes are
appropriate in the circumstances. However, whether actual results,
performance or achievements will conform to MEG's expectations and predictions
is subject to market conditions and a number of known and unknown risks and
uncertainties which could cause actual results to differ materially from MEG's
expectations. Other factors which could materially affect such forward-looking
information are described in the risk factors detailed in the offering
documentation prepared and delivered by MEG in connection with the New Notes
MEG Energy Corp. is focused on sustainable in situ oil sands development and
production in the southern Athabasca oil sands region of Alberta, Canada. MEG
is actively developing enhanced oil recovery projects that utilize SAGD
extraction methods. MEG's common shares are listed on the Toronto Stock
Exchange under the symbol "MEG."
SOURCE MEG Energy Corp.
Investors Helen Kelly Director, Investor Relations 403-767-6206
Media Brad Bellows Director, External Communications 403-212-8705
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CO: MEG Energy Corp.
NI: OIL NEWSTK
-0- Nov/06/2013 16:02 GMT
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