Saturn Oil & Gas Proposes Major Private Note Offering

Saturn Oil & Gas (TSE:SOIL) has released an update.

Saturn Oil & Gas Inc. is planning to privately offer $625 million in senior secured second lien notes due 2029 to fund a significant acquisition and other corporate purposes. The proceeds will bolster the company’s acquisition of assets in Southern Saskatchewan and repay existing debts while supporting general corporate activities. The offering, intended for qualified institutional and non-U.S. buyers, hinges on the completion of the pending acquisition with provisions for escrow and mandatory redemption.

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