Perpetual Energy Inc. extended the acceptance date for the exchange of senior notes due in 2018 and 2019, according to a Dec. 27 press release.

The 8.75% senior notes due March 15, 2018, and the 8.75% notes due July 23, 2019, now mature on Jan. 11, 2022, and can be exchanged until Jan. 11, 2017. Noteholders who participate in the exchange will receive $1,000 principal amount of exchange notes for each $1,000 of existing notes.

Perpetual Energy’s board of directors and management said the note exchange will enhance its strategy for long-term value creation for securityholders, as well as its assets and operations.

Perpetual Energy will repay any 2018 notes and 2019 notes not tendered by using proceeds from excess fund flows, asset sales, refinancing or a combination thereof.

Scotia Capital Inc. is the sole dealer manager and solicitation agent. Kingsdale Shareholder Services is the information agent and Computershare Investor Services Inc. is the depositary.

Perpetual Energy Inc. is based in Calgary, Alberta.