Attention Business Editors:
Penn West Energy Trust Confirms the Closing Of Its Private Placement of Notes
PENN WEST ENERGY TRUST (TSX - PWT.UN; NYSE - PWE) confirms it has closed
the issuance of US$480 million plus CAD$30 million of notes on a private
placement basis.
CALGARY, May 30 /CNW/ - Penn West Energy Trust ("Penn West") is pleased
to confirm that its wholly-owned subsidiary, Penn West Petroleum Ltd.,
recently closed the previously announced issuance of notes with aggregate
principal amounts of US$480 million and CAD$30 million. The notes were issued
on a private placement basis primarily in the United States.
The private placement consists of US$152.5 million of 6.12% notes due in
2016, US$278 million of 6.30% notes due in 2018, CAD$30 million of 6.16% notes
also due in 2018 and US$49.5 million of 6.40% notes due in 2020. The notes are
unsecured and rank equally with Penn West's bank facilities and Penn West's
outstanding senior notes issued in May 2007, with an aggregate principal
amount of US$475 million. The proceeds of the notes were used to repay a
portion of Penn West's outstanding bank debt under its credit facilities.
The notes will not be registered under the United States Securities Act
of 1933, as amended (the "Securities Act"), and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements of the Securities Act.
Penn West Energy Trust is a senior oil and natural gas energy trust based
in Calgary, Alberta. Penn West's units and debentures are listed on the
Toronto Stock Exchange under the symbol PWT.UN, PWT.DB.A, PWT.DB.B, PWT.DB.C,
PWT.DB.D, PWT.DB.E and PWT.DB.F and on the New York Stock Exchange under the
symbol PWE.
%SEDAR: 00022266E
%CIK: 0001334388
For further information: PENN WEST ENERGY TRUST, Suite 2200, 425 - First
Street S.W., Calgary, Alberta, T2P 3L8, Phone: (403) 777-2500, Toll-free:
1-866-693-2707, Fax: (403) 777-2699; Investor Relations: Phone:
1-888-770-2633, E-mail: investor_relations@pennwest.com, Website:
www.pennwest.com
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Penn West Energy Trust
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CODE : PWE |
ISIN : CA7078871059 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Penn West Energy Trust is a and oil producing company based in Canada. Penn West Energy Trust holds various exploration projects in Canada. Its main exploration property is SWAN HILLS in Canada. Penn West Energy Trust is listed in United States of America. Its market capitalisation is US$ 80.7 millions as of today (€ 73.8 millions). Its stock quote reached its highest recent level on May 29, 2009 at US$ 9.98, and its lowest recent point on April 01, 2020 at US$ 0.15. Penn West Energy Trust has 504 340 988 shares outstanding. |