Teine Energy to sell $400 million eight-year senior notes on Tuesday; initial price talk 7%

By Abigail W. Adams

Portland, Me., March 22 – Teine Energy Ltd. plans to price $400 million of eight-year senior notes (B3/B+) on Tuesday with initial price talk for a yield of 7%, according to a market source.

The notes are non-callable for three years.

Goldman Sachs & Co. LLC is lead left bookrunner for the Rule 144A and Regulation S offering.

Proceeds will be used to redeem the full $350 million outstanding of its 6 7/8% senior notes due 2022.

Teine Energy is a Calgary, Alta.-based oil and natural gas exploration, development and production company.

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