Vermilion Energy completes US $300M debt financing

Ted Liu

Updated on:

Calgary (pcJ News Briefs) – Vermilion Energy Inc. (TSX/NYSE: VET) has completed previously announced private offering of US $300 million senior unsecured notes due 2025.

The notes have a fixed coupon of 5.625% per annum, to be paid semi-annually on March 15 and September 15, commencing September 15, 2017.

Vermilion Energy intends to use the net proceeds from the new notes to repay a portion of the debt outstanding on its revolving credit facility.

Vermilion Energy is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and oil drilling and workover programs in France and Australia. Vermilion also holds an 18.5% working interest in the Corrib gas field in Ireland.