- Canacol Energy (CNE) has completed its offering of US$500 million aggregate principal amount of 5.75 per cent senior unsecured notes due 2028
- Canacol intends to use the proceeds of the offering primarily to refinance its outstanding 7.250 per cent senior notes due 2025
- By replacing the 2025 notes, Canacol will defer the maturity date of Canacol’s most significant indebtedness by three years, providing additional liquidity
- The notes have been sold only to qualified institutional buyers in the United States
- Canacol is a natural gas exploration and production company with operations in Colombia
- Canacol Energy Ltd. (CNE) opened trading at C$3.22 per share
Canacol Energy (CNE) has completed its offering of US$500 million aggregate principal amount of 5.75 per cent senior unsecured notes due 2028.
Canacol intends to use the proceeds of the offering to refinance the outstanding 7.250 per cent senior notes due 2025, pay the fees and expenses of the tender offer, refinance certain other existing indebtedness and for general corporate purposes, including capital expenditures.
By replacing the 2025 notes, Canacol will defer the maturity date of Canacol’s most significant indebtedness by three years, providing additional liquidity to be used towards capital expenditures.
The notes have been sold only to qualified institutional buyers in the United States.
Canacol is a natural gas exploration and production company with operations in Colombia.
Canacol Energy Ltd. (CNE) opened trading at C$3.22 per share.