Ovintiv Inc. has priced an offering of a wide berth of senior notes, including $600 million due 2025, $700 million due 2028, $600 million due 2033, and $400 million due 2053, according to a May 16 release. The principal amount ranges from 5.650% to 7.100% based on the pricing. (Source: Shutterstock.com)
Ovintiv Inc. has priced an offering of a wide berth of senior notes, including $600 million due 2025, $700 million due 2028, $600 million due 2033, and $400 million due 2053, according to a May 16 release. The principal amount ranges from 5.650% to 7.100% based on the pricing.
Ovintiv plans to use the net proceeds from these notes to help pay for its acquisition of EnCap Investments LP’s portfolio companies — Black Swan Oil and Gas, PetroLegacy Energy and Piedra Resources — in a $4.2 billion deal announced in April.
The total price for the notes ranges based on the specific tier; the price is 99.994% of the principal amount for the 2025 notes, 99.973% for the 2028 notes, 99.793% for the 2033 notes, and 99.796% for the notes due 2053. The offering is expected to close at the end of the month, on May 31.
Ovintiv is based in Denver.
Recommended Reading
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Daniel Berenbaum Joins Bloom Energy as CFO
2024-04-17 - Berenbaum succeeds CFO Greg Cameron, who is staying with Bloom until mid-May to facilitate the transition.
Equinor Releases Overview of Share Buyback Program
2024-04-17 - Equinor said the maximum shares to be repurchased is 16.8 million, of which up to 7.4 million shares can be acquired until May 15 and up to 9.4 million shares until Jan. 15, 2025 — the program’s end date.