By Lisa Kerner
Charlotte, N.C., May 1 – Peyto Exploration & Development Corp. issued C$100 million of 4.25% senior notes to Manufactures Life Insurance Co., New York Life Insurance Co., New York Life Insurance and Annuity Corp., United of Omaha Insurance Co. and Mutual of Omaha Insurance Co.
The notes mature in May 2025, according to a news release.
Interest will be paid semiannually in arrears.
Proceeds were used to repay a portion of Peyto's outstanding bank debt.
The senior notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Peyto is a natural gas weighted energy trust based in Calgary, Alta.
| Issuer: | Peyto Exploration & Development Corp.
|
| Issue: | Senior notes
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| Amount: | C$100 million
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| Coupon: | 4.25%
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| Maturity: | May 2025
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| Distribution: | Private placement
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| Purchasers: | Manufactures Life Insurance Co., New York Life Insurance Co., New York Life Insurance and Annuity Corp., United of Omaha Insurance Co. and Mutual of Omaha Insurance Co.
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