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

Corporate Finance and Securities

Date Closed

July 2017

Industry

Energy (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).


Team
Lorne  Carson

Lorne Carson

Partner, Corporate

Jason  Comerford

Jason Comerford

Partner, Corporate

Dana Saric

Dana Saric

Associate, Corporate

Kelsey  Armstrong

Kelsey Armstrong

Associate, Corporate

Miju Damodar

Miju Damodar

Associate, Corporate