International Petroleum Corporation Plans New Bond Issuance
Investor Meetings Announcement
International Petroleum Corporation (IPC or the Corporation) is gearing up to arrange fixed income investor meetings as it plans for a new issuance of rated senior unsecured bonds. This initiative aims to refinance its existing outstanding bond, presenting an exciting opportunity for investors.
Bond Issuance Details
IPC has partnered with Arctic Securities and Pareto Securities as Global Coordinators and Joint Bookrunners. Clarksons Securities is also involved as a Joint Bookrunner, while SB1 Markets joins as Co-Manager. The series of meetings is set to kick off on a Monday, with discussions centering on a possible USD 450 million bond issuance with a five-year maturity term.
Purpose of the Bond Issuance
The primary objective behind this bond issuance is to repurchase IPC's outstanding USD 450 million bond, utilizing the existing call option. This strategic move not only allows for debt restructuring but also aims to enhance the Corporation's financial stability in a fluctuating market.
About International Petroleum Corporation
International Petroleum Corp. is recognized as an international player in the oil and gas exploration and production sector. With a robust portfolio of assets in various regions, IPC is poised for both organic and inorganic growth. This adaptability is crucial in navigating the ever-changing landscape of global oil markets.
Corporate Structure and Affiliations
IPC is incorporated in Canada and operates as a part of the prestigious Lundin Group of Companies. Its shares can be found listed on both the Toronto Stock Exchange and the Nasdaq Stockholm, under the symbol "IPCO". This affiliation underscores IPC’s significant presence within the industry.
Contact Information
For media inquiries or further details regarding the bond issuance, interested parties may reach out to the following contacts:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
Market Conditions and Financial Prospects
While IPC is optimistic about the upcoming bond issuance, it's important to recognize that market conditions can be unpredictable. Investors are encouraged to consider these factors when evaluating participation in fixed income opportunities. IPC's proactive measures to refinance existing obligations are aimed at safeguarding its financial health and creating a solid foundation for future growth.
Frequently Asked Questions
What is the purpose of the bond issuance by IPC?
The bond issuance aims to refinance IPC's existing USD 450 million bond to enhance financial stability.
Who are the joint bookrunners for the upcoming bond issuance?
IPC has engaged Arctic Securities and Pareto Securities as Global Coordinators, with Clarksons Securities and SB1 Markets also involved.
How does IPC plan to utilize the proceeds from the bond issuance?
The proceeds will be used to repay the outstanding bond IPC currently holds, utilizing the call option to execute this strategy.
Where is IPC incorporated and where are its shares listed?
IPC is incorporated in Canada, with shares listed on the Toronto Stock Exchange and Nasdaq Stockholm under the ticker "IPCO".
Who can I contact for more information regarding IPC?
For inquiries, you may contact Rebecca Gordon or Robert Eriksson using the provided email addresses and phone numbers.
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