MEG Energy Corp. (TO: MEG) priced its private offering of US $800 million of senior unsecured notes due 2024.
Due to the positive market reception for the notes offering, MEG increased the total size of the offering from US $750 million. The notes will bear interest at 7% per annum and are due in 2024.
Net proceeds will be used for general corporate purposes, including funding its 2014 capital program.
The senior notes to be offered by MEG will not be registered under the U.S. Securities Act and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements.
MEG Energy Corp. is an independent energy company engaged in the development and production of in situ oil sands in Alberta. The company is headquartered in Calgary.