TSX:TOUOil and Gas
Tourmaline Oil (TSX:TOU) Valuation Check After CAD 250 Million Investment Grade Notes Offering
Why Tourmaline Oil’s new CAD 250 million notes matter for shareholders
Tourmaline Oil (TSX:TOU) has agreed to issue CAD 250 million of senior unsecured notes, carrying a fixed 3.934% coupon and a provisional BBB (High) rating, to refinance debt and support general corporate needs.
The notes, offered in Canada on a private placement and expected to mature in March 2031, are positioned to support the company’s long term net debt target of $1.75 billion, or about 0.5x net debt to cash flow.
See...