Seven Generations Energy Ltd. (ticker: VII) has commenced a cash tender offer to purchase any and all of its 8.250% senior unsecured notes due 2020. As of September 22, 2017, US$700 million aggregate principal amount of the Notes was outstanding, the company said in a press release.
The tender offer will expire at 5:00 p.m., New York City time, on September 29, 2017, unless extended. Tendered Notes may be withdrawn at any time before the expiry of the tender offer.
The tender offer is contingent upon Seven Generations’ successful completion of a proposed debt financing transaction, the proceeds of which will, together with Seven Generations’ cash balances, be sufficient to fund the purchase of all outstanding Notes and to pay all fees and expenses associated with such financing and the tender offer, the company said.
