Obsidian Energy Ltd. announced its election to redeem $30.0 million of the $110.8 million aggregate principal amount of its 11.95 percent Senior Unsecured Notes due July 27, 2027. This partial redemption will be conducted on a pro rata basis.
The redemption date is set for August 29, 2025, with a redemption price of $1,029.88 per $1,000 principal amount of the redeemed Notes, plus accrued and unpaid interest. The company intends to utilize its available liquidity to fund this redemption.
Upon completion of this redemption, Obsidian Energy will have $80.8 million of its Senior Unsecured Notes outstanding. This proactive measure is expected to reduce the company's go-forward interest expense and further strengthen its balance sheet.
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