Veren (TSE:VRN) has released an update.
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Veren Inc. has announced the pricing of a CDN$1.0 billion offering of senior unsecured notes, which will fund the repayment of existing debts, including a full retirement of the company’s bank term loan. The offering includes both five-year and ten-year notes, with proceeds aiming to bolster Veren’s financial position following a strategic transformation that led to an investment-grade credit rating. The notes, guaranteed by some of Veren’s subsidiaries, are set to be issued with the backing of leading financial institutions as joint lead agents and bookrunners.
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