By Lisa Kerner
Charlotte, N.C., March 25 - Crescent Point Energy Corp. said it raised $260 million and C$50 million through a private placement of senior guaranteed notes to a group of institutional investors.
The notes and terms are:
• $37.5 million of 4.71% notes due 2015;
• $67.5 million of 5.48% notes due 2017;
• $155 million of 6.03% notes due 2020; and
• C$50 million of 4.924% notes due 2015.
According to a company news release, the notes are unsecured and rank equally with Crescent Point's obligations under its bank facilities.
Proceeds from the offering were used to repay a portion of Crescent Point's outstanding bank debt.
RBC Capital Markets Corp. acted as lead placement agent on the offering, and HSBC Securities (USA) Inc. and National Bank of Canada acted as co-placement agents.
The notes will not be registered under the U.S. Securities Act of 1933, as amended, the company said.
Crescent Point is a Calgary, Alta., oil and gas producer.
| Issuer: | Crescent Point Energy Corp.
|
| Issue: | Senior guaranteed notes
|
| Amount: | $260 million, C$50 million
|
| Agents: | RBC Capital Markets Corp. (lead), HSBC Securities (USA) Inc. and National Bank of Canada
|
| Distribution: | Private placement
|
|
|
| 4.71% notes
|
| Amount: | $37.5 million
|
| Maturity: | 2015
|
| Coupon: | 4.71%
|
|
|
| 5.48% notes
|
| Amount: | $67.5 million
|
| Maturity: | 2017
|
| Coupon: | 5.48%
|
|
|
| 6.03% notes
|
| Amount: | $155 million
|
| Maturity: | 2020
|
| Coupon: | 6.03%
|
|
|
| 4.924% notes
|
| Amount: | C$50 million
|
| Maturity: | 2015
|
| Coupon: | 4.924%
|
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