Obsidian Energy announced an additional $75.0 million aggregate principal amount of its existing 8.125% senior unsecured notes due December 3, 2030, via a private placement. The offering is being issued at a price of 102.75, resulting in an effective yield of 7.186% and gross proceeds of $77.1 million. Net proceeds will be used to pay down credit facility indebtedness, fund general corporate expenses, and pay transaction expenses. Obsidian Energy is an oil and gas producer operating in the Western Canada Sedimentary Basin.
