Greenfire begins tender offer for all $217.94 million 12% secured notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 5 – Greenfire Resources Inc., formerly GAC HoldCo Inc., began a cash tender offer for any and all of its $217,935,000 outstanding 12% senior secured notes due 2025, according to a news release.

For each $1,000 principal amount, the company is offering a consideration of $1,065.

The offer will expire at 5 p.m. ET on Sept. 15. Notes tendered may be withdrawn at any time prior to then.

Holders will also receive accrued interest to but excluding the settlement date, which is expected to be Sept. 18.

The offer is subject to some conditions, including closing of Greenfire’s offering of senior secured notes, the net proceeds of which, together with other available cash, will be sufficient to pay the consideration for the tender offer.

Concurrently with the tender offer, the company issued a conditional notice to redeem any of the 12% senior secured notes not tendered under the offer at 106 plus interest through Oct. 4. The redemption date is expected to be Oct. 5.

BMO Capital Markets Corp. (833 418-0762, 212 702-1840 or LiabilityManagement@bmo.com) is the dealer manager.

D.F. King & Co., Inc. (800 591-8263, 212 269-5550 or www.dfking.com/greenfire) is the information agent and tender agent.

The Calgary, Alta.-based energy company is focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada.

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