Obsidian Energy closed a $75.0 million private placement offering of its 8.125% senior unsecured notes due December 3, 2030, which increased the aggregate principal amount of the notes outstanding to $250.0 million. The additional notes were issued at 102.75% of face value, resulting in gross proceeds of $77.9 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.
