Delphi Energy Corp.

Delphi Energy Corp. in its sale of common shares and offering of senior secured notes for approximately $65.3 million

Client

Delphi Energy Corp.

Value

$65.3 million

Service

Capital Markets

Date Closed

June 2017

Industry

Energy (Oil & Gas)

Lead Office

Calgary


 

On June 7, 2017, Delphi Energy Corp. (“Delphi”) closed its previously announced financing comprised of the sale of (i) 27,559,055 common shares issued at a price of $1.27 per common share; and (ii) 30,000 senior secured CELTM notes, each with a principal amount of $1,000 and a 10% coupon, for gross proceeds of approximately $65.3 million. As a result of this transaction, the enhanced liquidity will support Delphi’s planned accelerated capital program.

A syndicate of agents, led by Raymond James Ltd. and co-led by AltaCorp Capital Inc., sold the common shares, and Raymond James Ltd., as sole agent, sold the CELTM notes, all on a private placement basis.

Delphi is a Canada-based company that is engaged in the acquisition for and exploration, development, and production of crude oil, natural gas and natural gas liquids in western Canada.

Osler, Hoskin & Harcourt LLP represented Delphi with a team that was led by Robert Lehodey and supported by Heidi Wong, Justin Sherman and Bryce Kustra (Corporate).


Team
Heidi  Wong

Heidi Wong

Counsel, Corporate

Justin Sherman

Justin Sherman

Associate, Corporate

Bryce Kustra

Bryce Kustra

Associate, Real Estate