By Susanna Moon
Chicago, March 17 - Penn West Energy Trust said its wholly owned subsidiary Penn West Petroleum Ltd. closed its private placement of senior unsecured notes for $250 million and C$50 million.
The notes have an average term of 8.6 years, an average interest rate of 5.5% and were issued on a private placement basis in the United States and Canada, according to a company press release.
Proceeds were used to repay a portion of Penn West's advances under its credit facilities.
Penn West is a Calgary, Alta.-based oil and gas investment trust.
| Issuer: | Penn West Energy Trust
|
| Issue: | Senior unsecured notes
|
| Amount: | $250 million, C$50 million
|
| Maturity: | 8.6 years on average
|
| Coupon: | 5.5% on average
|
| Price: | Par
|
| Settlement date: | March 17
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
