International Petroleum Corporation (“IPC” or the “Company”) (TSX, Nasdaq Stockholm: IPCO) announces that iit is to plan arrangee Fixed-income investor talks in connection with a potential IGuarantee of rated senior unsecured bonds on the Nordic bond market. The planned bond is rated B + by S&P Global Ratings and B1 by Moody’s.
IPC has hired Arctic Securities and Pareto Securities as joint lead managers and bookrunners and SpareBank 1 Markets as co-managers to organize a series of bond investor meetings starting Tuesday, January 11, 2022. Subject to market conditions, US $ 300 million will be issued. Senior unsecured bonds with a maturity of 5 years may follow. The purpose of the bond issue would be to repay IPC’s existing debt through bank loans and for general corporate purposes.
International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets in Canada, Malaysia and France, a solid foundation for organic and inorganic growth. IPC is a member of the Lundin group of companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq. written down Stockholm Stock Exchange under the symbol “IPCO”.
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This press release contains statements and information that constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities laws). Such statements and information (collectively, “forward-looking statements”) address future events, including future company performance, business prospects or opportunities. Actual results could differ materially from those expressed or implied in any forward-looking statement. The forward-looking statements contained in this press release are expressly limited by this cautionary note. Forward-looking statements speak only as of the date of this press release unless otherwise stated. IPC does not intend and assumes no obligation to update these forward-looking statements unless this is required under applicable law.
All statements that are not historical facts may be forward-looking statements. Any statement that expresses or involves discussion of any predictions, expectations, beliefs, plans, projections, projections, guidelines, budgets, goals, assumptions, or future events or performance (often, but not always, with words or expressions such as “seek” , “anticipate”, “plan”, “continue”, “estimate”, “expect”, “can”, “will”, “forecast”, “predict”, “predict”, “potentially”, “align”, ” intend “,” could “,” could “,” should “,” believe “,” budget “and similar expressions) are not statements of historical fact and may be” forward-looking statements “. Forward-looking statements include, among other things, statements relating to: IPC’s consideration of an issue of senior unsecured bonds, the size and terms of such bonds, the use of proceeds from such bonds, the creditworthiness of the bonds and IPC’s ability to issue such bonds Completion of the issue and its timing.
The forward-looking statements are based on certain key expectations and assumptions by IPC, including expectations and assumptions about: prevailing commodity prices and exchange rates; applicable license fees and tax laws; Interest charges; future well production rates and reserves and contingent resource volumes; Operating cost; the time of receipt of regulatory approvals; the performance of existing wells; the success achieved in drilling new wells; expected point in time and results of capital expenditure; the adequacy of the budgeted capital expenditures to carry out the planned activities; Time, place and scope of future drilling work; the successful completion of acquisitions and divestitures; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and worldwide; Availability and cost of finance, labor and services; and the ability to successfully commercialize crude oil, natural gas and natural gas liquids.
While IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should be placed on any forward-looking statements as IPC cannot give any assurances that they will prove to be correct. Because forward-looking statements address future events and conditions, they inherently involve inherent risks and uncertainties. Actual results could differ materially from those currently expected due to a number of factors and risks. These include, but are not limited to: the risks associated with the oil and gas industry in general, such as operational risks in development, exploration and production; Delays or changes to plans in relation to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenditures; Health, safety and environmental risks; Fluctuations in the price of raw materials; Interest rate and exchange rate fluctuations; Marketing and transportation; Loss of markets; Environmental risks; Contest; incorrect assessment of the value of acquisitions; Failure to complete or realize the anticipated benefits of any acquisitions or disposals; the ability to access sufficient capital from internal and external sources; Failure to obtain required regulatory and other approvals; and legislative changes, including but not limited to tax laws, license fees, and environmental regulations. Readers are cautioned that the list of factors above is not exhaustive.
Additional information about these and other factors that could affect IPC or its business or financial results are included in Management’s Discussion and Analysis (MD&A) for the nine months ended September 30, 2021 (see “Cautionary Statement Regarding Forward-Looking Information” therein ), the company’s Annual Information Form (AIF) for the year ended December 31, 2020 (see “Cautionary Statement Regarding Forward-Looking Information”, “Notes About Reserves and Resources” and “Risk Factors” therein) and other reports filed with applicable securities regulators, including previous financial reports, management discussions and analysis, and reports of material changes which can be accessed on the SEDAR website (www.sedar.com) or the IPC website (www.international-petroleum.com).
All dollar amounts in this press release are in US dollars unless otherwise stated. References herein to USD mean US dollars. References to CAD herein mean Canadian dollars.