Repsol Oil & Gas Canada Inc. announces redemption of its outstanding senior notes and debentures

Rhea-AI Summary

Repsol Oil & Gas Canada Inc. announced plans to redeem all of its outstanding senior notes and debentures on June 28, 2022. This includes 5.75% Senior Notes due 2035, 5.85% Senior Notes due 2037, 6.25% Senior Notes due 2038, 5.50% Senior Notes due 2042, and 7.25% Debentures due 2027. The action reflects the company's financial strategy and commitment to managing its debt. Repsol Oil & Gas, a subsidiary of Repsol, S.A., operates in the upstream oil and gas sector in Canada.

Positive

• Redemption of senior notes may improve cash flow management.
• Demonstrates the company's commitment to reducing debt.

Negative

• Potential impact on liquidity due to the cash outflow for redemptions.

CALGARY, AB, May 27, 2022 /PRNewswire/ - Repsol Oil & Gas Canada Inc. (formerly known as Talisman Energy Inc.), a Canadian-based upstream oil and gas company (the "Company"), announced that it has issued notices of redemption to redeem, on June 28, 2022, all of its issued and outstanding 5.75% Senior Notes due 2035 (CUSIP No. 87425E AH6 and ISIN No. US87425EAH62), 5.85% Senior Notes due 2037 (CUSIP No. 87425E AJ2 and ISIN No. US87425EAJ29), 6.25% Senior Notes due 2038 (CUSIP No. 87425E AK9 and ISIN No. US87425EAK91), 5.50% Senior Notes due 2042 (CUSIP No. 87425E AN3 and ISIN No. US87425EAN31), and 7.25% Debentures due 2027 (CUSIP No. 87425E AE3 and ISIN No. US87425EAE32).

About Repsol Oil & Gas Canada Inc.

Repsol Oil & Gas Canada Inc. is an upstream oil and gas company, incorporated in Canada and is a wholly-owned subsidiary of the Spanish integrated energy company Repsol, S.A.

Forward-Looking Statements

This news release contains information that constitutes "forward-looking information" or "forward-looking statements" (collectively "forward-looking information"). Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks which could cause actual results to vary and in some instances to differ materially from those anticipated by the Company and described in the forward-looking information contained in this news release. Forward-looking information is based on the estimates and opinions of the Company's management at the time the information is presented. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change, except as required by law.

View original content:https://www.prnewswire.com/news-releases/repsol-oil--gas-canada-inc-announces-redemption-of-its-outstanding-senior-notes-and-debentures-301556786.html

SOURCE Repsol Oil & Gas Canada Inc.

FAQ

What senior notes is TLM redeeming on June 28, 2022?

TLM is redeeming 5.75% Senior Notes due 2035, 5.85% Senior Notes due 2037, 6.25% Senior Notes due 2038, 5.50% Senior Notes due 2042, and 7.25% Debentures due 2027.

What is the purpose of TLM's redemption announcement?

The redemption is aimed at managing and reducing the company's outstanding debt.

When will TLM redeem its outstanding notes?

TLM will redeem its outstanding notes on June 28, 2022.

How does TLM's redemption affect its financial strategy?

The redemption reflects TLM's strategy to improve cash flow management and reduce financial obligations.