Chicago, Jan. 20 – International Petroleum Corp. sold $300 million of 7¼% five-year bonds (B1/B+), according to a press release.
Arctic Securities and Pareto Securities acted as joint lead managers.
Proceeds will be used to repay the company’s existing debt under bank credit facilities and for general corporate purposes.
Listing will be on the Oslo Stock Exchange.
The oil and gas exploration and production company is based in Vancouver, B.C.
| Issuer: | International Petroleum Corp.
|
| Amount: | $300 million
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| Issue: | Bonds
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| Tenor: | Five years
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| Bookrunners: | Arctic Securities and Pareto Securities
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| Co-manager: | SpareBank 1 Markets
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| Coupon: | 7¼%
|
| Trade date: | Jan. 20
|
| Settlement date: | Feb. 1
|
| Ratings: | Moody’s: B1
|
| S&P: B+
|
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