Seven Generations Energy to price $300 million tap of 8¼% notes Friday

By Paul A. Harris

Portland, Ore., Jan. 31 - Seven Generations Energy Ltd. plans to price a $300 million tack-on to its 8¼% senior notes due May 15, 2020 Friday afternoon, according to an informed source.

Credit Suisse Securities (USA) LLC and RBC Capital Markets LLC are the joint bookrunners for the Rule 144A and Regulation S for life offer.

The notes become callable on May 15, 2016 at 106.188 and feature a 35% equity clawback at 108.25 until May 15, 2016 and a 101% poison put.

The Calgary, Alta.-based energy company plans to use the proceeds to expedite its 2014 capital program and for general corporate purposes.

The original $400 million issue priced at par on May 7, 2013.

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