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Veren Announces Closing of Investment-Grade Senior Notes Offering

Newswire.ca - Fri Jun 21, 7:59AM CDT

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CALGARY, AB, June 21, 2024 /CNW/ - Veren Inc. ("Veren", or the "Company") (TSX: VRN) (NYSE: VRN) has successfully closed its previously announced offering of CDN$1.0 billion aggregate principal amount of senior unsecured notes (the "Offering"), consisting of CDN$550 million of 4.968% five-year notes priced at par and due June 2029, and CDN$450 million of 5.503% 10-year notes priced at par and due June 2034 (collectively, the "Notes"). The Notes have been assigned a rating of BBB (low), with a Stable trend, by DBRS Limited (Morningstar DBRS). The net proceeds from the Offering will be used to repay existing indebtedness under bank facilities, including fully retiring the Company's bank term loan.

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