Saturn Oil & Gas Inc. (“Saturn” or the “Company”) has exciting news to share. The company intends to offer US$625 million in aggregate principal amount of senior secured second lien notes due 2029 in a private offering. The Notes will be secured by second priority perfected liens on the Company’s assets.
This Offering will help fund the cash purchase price of the Company’s pending acquisition of oil and gas properties in Southern Saskatchewan. It will also be used to repay the senior secured term loan and for general corporate purposes, including restructuring of certain hedges. Additionally, Saturn has secured a commitment for a new reserve based loan facility of $150 million.
The Notes will have a “special mandatory redemption” if the acquisition is not completed by August 14, 2024. The offering is exempt from registration requirements and will be available to qualified institutional buyers.
Saturn Oil & Gas Inc. is a growing Canadian energy company focused on responsible development and positive shareholder returns. With a strong portfolio of assets in Saskatchewan and Alberta, the company is committed to building an ESG-focused culture.
For more information about Saturn Oil & Gas Inc., visit their website and explore their offerings. Stay updated on their latest developments and contributions to the energy industry.
Investor & Media Contacts:
– John Jeffrey, MBA – Chief Executive Officer
– Kevin Smith, MBA – VP Corporate Development
– [Visit Website](https://saturnoil.com/)
This press release does not constitute an offer to sell or a solicitation to buy securities. It is important to note the risks associated with the oil and gas industry and the factors that may impact future outcomes.
For more details and specific forward-looking statements, refer to Saturn’s Annual Information Form. Stay informed about the latest news and updates from Saturn Oil & Gas Inc.
Stay tuned for more updates and announcements from Saturn Oil & Gas Inc. as they continue their journey in the energy sector.