Cona Resources Ltd.

Cona Resources Ltd. completes tender offer for its US$269.7 million senior notes partially financed by a $160 million second lien term loan

Client

Cona Resources Ltd.

Value

US$269.7 million

Service

Capital Markets

Date Closed

July 2017

Industry

Oil & Gas

Lead Office

Calgary

Cona Resources Ltd. (formerly Northern Blizzard Resources Inc.) completed a change of control tender offer for its US$269.7 million outstanding 7.25% Senior Notes due 2022 and notified holders of remaining untendered notes that such notes will be redeemed on August 31, 2017. The purchase of notes was financed through a $160 million second lien term loan entered into for the purposes of financing the tender offer, a draw on the company’s existing credit facility (after related amendments) and cash on hand.

Cona Resources Ltd. is a Canadian crude oil production and development company, headquartered in Calgary, Alberta, focused on maximizing oil recovery from its large-scale oil resource base.

Osler, Hoskin & Harcourt LLP represented Cona in the above transactions, led by Noralee Bradley with a team that included Lorne Carson, Jason Comerford, Dana Saric, Kelsey Armstrong and Miju Damodar (Corporate).