CALGARY, ALBERTA--(Marketwire - Dec. 6, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Trilogy Energy Corp. (TSX:TET) today announced that it has priced its offering of C$300 million aggregate principal amount of 7.25% senior unsecured notes due December 13, 2019 (the "Notes") at par (the "Offering"), upsized from the previously announced C$250 million. Trilogy expects the Offering to close on or about December 13, 2012, subject to the satisfaction of customary closing conditions.
The Notes were offered by way of private placement to purchasers in Canada by a syndicate of underwriters led by Scotiabank, RBC Capital Markets and BMO Capital Markets as joint book runners and including CIBC World Markets, TD Securities, AltaCorp Capital Inc. and Stifel Nicolaus Canada Inc.
Trilogy intends to use the net proceeds from the Offering for the non-permanent repayment of indebtedness under Trilogy's credit facility, for capital expenditures and for general corporate purposes.
The Notes have not been and will not be registered under any federal or state securities laws of the United States. Accordingly, the Notes may not be offered or sold within the United States, except in transactions exempt from the registration requirements of the federal and applicable state securities laws of the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction.
Trilogy is a growing petroleum and natural gas-focused Canadian energy corporation that actively develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's geographically concentrated assets are primarily low-risk, high working interest properties that provide abundant infill drilling opportunities and good access to infrastructure and processing facilities, many of which are operated and controlled by Trilogy. Trilogy's common shares are listed on the Toronto Stock Exchange under the symbol "TET".
Advisory Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. In particular, this news release contains forward-looking statements with respect to the timing and completion of the proposed offering of Notes and the use of proceeds from the offering. Although Trilogy believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on them because Trilogy can give no assurance that such expectations will prove to be correct. Assumptions have been made with respect to, among other things, general economic and market conditions. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include, among other things, general economic and market conditions, industry conditions, market and commodity price volatility and Trilogy's financial and operational performance and results. Trilogy undertakes no obligation to update the forward-looking statements herein except as required by applicable laws.