Whitecap Resources Inc. (“Whitecap” or the “Company”) is pleased to announce that it has successfully closed the previously announced offering of $400 million aggregate principal amount of senior unsecured notes due November 1, 2029 (the “Notes”). The Notes have been issued at par for gross proceeds of $400 million and will bear interest at a fixed rate of 4.382% per annum. The net proceeds will be used to repay existing indebtedness. The Notes have also been assigned a rating of BBB (low), with a stable trend, by Morningstar DBRS.
The Notes will be direct, unsecured obligations of the Company and will rank equally with all other present and future unsecured and unsubordinated indebtedness of the Company.
