Surge Energy (TSE:SGY) has released an update.
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Surge Energy Inc. has launched a private placement offering of C$175 million in senior unsecured notes, with an 8.500% annual interest rate, maturing in 2029. The proceeds will primarily go towards repaying existing debt, aiming to strengthen the company’s financial position and support growth in its core oil areas. The offering is expected to close on September 5, 2024, and is limited to accredited investors in Canada and qualified institutional buyers in the U.S.
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