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Teine Energy Ltd. Announces Proposed Private Offering of Senior Unsecured Notes

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These translations are done via Google Translate

CALGARY, AB, March 22, 2021 /PRNewswire/ – Teine Energy Ltd. (“Teine“) announced today that it is planning to commence, subject to market and other conditions, a private offering (the “offering“) of US$400 million in aggregate principal amount of senior unsecured notes due 2029 (the “notes“). Teine intends to use the net proceeds from this offering, if completed, to redeem in full Teine’s outstanding US$350 million aggregate principal amount of 6.875% senior unsecured notes due 2022 (the “2022 Notes“) at a redemption price of 100%, plus accrued and unpaid interest to, but not including the redemption date, to repay all or a portion of the outstanding borrowing under Teine’s credit facilities and to pay fees and expenses incurred in connection with the offering.

The offer and sale of the notes have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A and non U.S. persons outside the United States in compliance with Regulation S under the U.S. Securities Act. In Canada, the notes are to be offered and sold on a private placement basis in certain provinces of Canada. This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.

About Teine Energy Ltd.

Teine is a Calgary-based exploration, development and production company focused on acquiring and developing oil and natural gas properties in the Western Canadian Sedimentary Basin. Approximately 90% of Teine’s production is weighted towards oil and natural gas liquids.

Forward-Looking Information

This news release may contain forward-looking information including but not limited to the proposed offering and issuance of the notes, the timing and successful completion of the offering and the use of proceeds therefrom, including the redemption of the 2022 Notes. Such forward-looking information is based on certain assumptions and analysis made by Teine in light of its experience and perception of current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Teine’s expectations and predictions is subject to market conditions and a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Teine’s expectations. Other factors which could materially affect such forward-looking information are described in the risk factors detailed in the offering documentation prepared and delivered by Teine in connection with the note issuance.

SOURCE Teine Energy Ltd.


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