CALGARY, April 17, 2017 /PRNewswire/ - (TSX:
PMT) – Perpetual Energy Inc. ("Perpetual" or the
"Company") announces that it has successfully completed the
previously announced early redemption of all of its outstanding
8.75% senior unsecured senior notes due March 15, 2018 (the "2018 Senior Notes").
Approximately $27.1 million principal
amount of the 2018 Senior Notes were redeemed for cash and
$0.5 million principal amount of the
2018 Senior Notes were redeemed for new 8.75% senior notes having
an extended maturity date of January 23,
2022 in accordance with the terms of the notice of
redemption.
In addition, in each case, holders of the 2018 Senior Notes will
receive cash in the amount of $7.91
per $1,000 principal amount of 2018
Senior Notes, representing all accrued and unpaid interest on the
2018 Senior Notes to, but not including April 17, 2017.
The cash portion of the redemption was funded in part from the
net proceeds of the Company's strategic financing initiatives
completed on March 14, 2017 and cash
on hand.
This early redemption and the issuance of additional notes with
an extended maturity date of January 23,
2022 enhances the Company's capital structure and further
supports the Company's ability to fund its growth-orientated 2017
capital program.
Additional Information
The Company will release its 2017 first quarter financial and
operating results on May 9, 2017.
Please visit www.perpetualenergyinc.com for additional details.
About Perpetual
Perpetual Energy Inc. is a Canadian energy company with a
spectrum of resource-style opportunities spanning liquids-rich
natural gas in the Alberta deep
basin, shallow gas, heavy oil and bitumen. Perpetual's shares are
listed on the Toronto Stock Exchange under the symbol "PMT".
Forward-Looking Information
Certain information regarding Perpetual in this news release
including management's assessment of future plans and operations
may constitute forward-looking statements under applicable
securities laws. Various assumptions were used in drawing the
conclusions or making the forecasts and projections contained in
the forward-looking information contained in this press release,
which assumptions are based on management's analysis of historical
trends, experience, current conditions, and expected future
developments pertaining to Perpetual and the industry in which it
operates as well as certain assumptions regarding the matters
outlined above. Forward-looking information is based on current
expectations, estimates and projections that involve a number of
risks, which could cause actual results to vary and in some
instances to differ materially from those anticipated by Perpetual
and described in the forward looking information contained in this
press release. Undue reliance should not be placed on
forward-looking information, which is not a guarantee of
performance and is subject to a number of risks or uncertainties,
including without limitation those described under "Risk
Factors" in Perpetual's Annual Information Form and MD&A for
the year ended December 31, 2016 and
those included in other reports on file with Canadian securities
regulatory authorities which may be accessed through the SEDAR
website (www.sedar.com) and at Perpetual's website
(www.perpetualenergyinc.com). Readers are cautioned
that the foregoing list of risk factors is not exhaustive.
Forward-looking information is based on the estimates and opinions
of Perpetual's management at the time the information is released
and Perpetual disclaims any intent or obligation to update publicly
any such forward-looking information, whether as a result of new
information, future events or otherwise, other than as expressly
required by applicable securities laws.
The Toronto Stock Exchange has neither approved nor disapproved
the information contained herein.
SOURCE Perpetual Energy Inc.
