/NOT FOR DISTRIBUTION TO UNITED STATES NEWSIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CALGARY, AB , Nov. 1, 2024
/CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company")
(TSX: WCP) is pleased to announce that it has successfully closed
the previously announced offering of $400
million aggregate principal amount of senior unsecured notes
due November 1, 2029 (the "Notes").
The Notes have been issued at par for gross proceeds of
$400 million and will bear interest
at a fixed rate of 4.382% per annum. The net proceeds will be used
to repay existing indebtedness. The Notes have also been
assigned a rating of BBB (low), with a stable trend, by Morningstar
DBRS.
The Notes will be direct, unsecured obligations of the Company
and will rank equally with all other present and future unsecured
and unsubordinated indebtedness of the Company.
ADVISORY
Credit Ratings
Credit ratings are intended to provide
investors with an independent measure of credit quality of an issue
of securities. Credit ratings are not recommendations to purchase,
hold or sell securities and do not address the market price or
suitability of a specific security for a particular investor. There
is no assurance that any rating will remain in effect for any given
period of time or that any rating will not be revised or withdrawn
entirely by a rating agency in the future if, in its judgement,
circumstances so warrant.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and
forward-looking information (collectively "forward-looking
information") within the meaning of applicable securities laws
relating to the financing and other aspects of our business. In
particular, and without limiting the generality of the foregoing,
this press release contains forward-looking information with
respect to: that the Company will use the net proceeds of the
financing to repay existing indebtedness. The forward-looking
information is based on certain key expectations and assumptions
made by our management. Although we believe that the expectations
and assumptions on which such forward-looking information is based
are reasonable, undue reliance should not be placed on the
forward-looking information because Whitecap can give no assurance
that they will prove to be correct. Since forward-looking
information addresses future events and conditions, by its very
nature it involves inherent risks and uncertainties. These include,
but are not limited, to: general business and economic conditions
and the risk of adverse changes thereto. Our actual results,
performance or achievement could differ materially from those
expressed in, or implied by, the forward-looking information and,
accordingly, no assurance can be given that any of the events
anticipated by the forward-looking information will transpire or
occur, or if any of them do so, what benefits that we will derive
therefrom. Management has included the above summary of assumptions
and risks related to forward-looking information provided in this
press release in order to provide security holders with a more
complete perspective on our future operations and such information
may not be appropriate for other purposes. Readers are
cautioned that the foregoing lists of factors are not exhaustive.
Additional information on these and other factors that could affect
our operations or financial results are included in reports on file
with applicable securities regulatory authorities and may be
accessed through the SEDAR+ website (www.sedarplus.ca). These
forward-looking statements are made as of the date of this press
release and we disclaim any intent or obligation to update publicly
any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE Whitecap Resources Inc.