Zenith Energy offers to swap three 2024 notes for new 2026 notes

By Marisa Wong

Los Angeles, Jan. 25 – Zenith Energy Ltd. is inviting holders of outstanding notes from three series to exchange their notes for new notes, according to a Thursday press release.

Zenith is offering to exchange the following existing notes:

• 10 1/8% euro-denominated notes due Jan. 27, 2024 (ISIN: XS2108546735);

• 10 1/8% dollar-denominated notes due Jan. 27, 2024 (ISIN: XS2108546651); and

• 10 1/8% sterling-denominated notes due Jan. 27, 2024 (ISIN: XS2108546578).

The company is offering to exchange the existing notes at an exchange ratio of 1 to 1 for the following new notes:

• 14 5/8% euro-denominated notes due Jan. 2, 2026 (ISIN: XS2736390472);

• 14.8% dollar-denominated notes due Jan. 2, 2026 (ISIN: XS2736390712); and

• 14 7/8% sterling-denominated notes due Jan. 2, 2026 (ISIN: XS2736390985).

Settlement of the Regulation S exchange offer is expected to take place on or before Feb. 23.

Further information may be obtained from the company (Andrea Cattaneo, chief executive officer; 587 315-1279; info@zenithenergy.ca).

The oil and gas company is based in Calgary, Alta.

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