International Petroleum Corporation (“IPC” or the “Company”) (TSX, Nasdaq Stockholm: IPCO) announce that Iit is planning arrangee bond investor meetings in the context of a potential IShow of assessed senior unsecured bonds on the Nordic bond market. The envisaged bond issue is expected to be rated B + by S&P Global Ratings and B1 by Moody’s.
IPC has mandated Arctic Securities and Pareto Securities as joint lead managers and bookkeepers, and SpareBank 1 Markets as co-manager, to organize a series of bond investor meetings as of Tuesday, January 11, 2022. Under subject to market conditions, an investment of $ 300 million A 5-year senior unsecured bond issue could follow. The objective of the bond issue would be to repay IPC’s existing indebtedness under bank credit facilities and for general corporate purposes.
International Petroleum Corp. (IPC) is am international oil and gas exploration and production company with a portfolio of high quality assets located in Canada, Malaysia and France, providing 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 Nasdaq Stockholm Stock Exchange under the symbol “IPCO”.
For more information, please contact:
VP Business Planning and Investor Relations
Phone: +41 22 595 10 50
Phone. : +46 701 11 26 15
This press release contains statements and information that constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities laws). These statements and information (collectively, “forward-looking statements”) relate to future events, including the future performance of the Company, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend and assumes no obligation to update these forward-looking statements, except as required by applicable law.
All statements other than statements of historical fact may be forward-looking statements. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, forecasts, directions, budgets, goals, assumptions or future events or performance (often, but not always , using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “plan”, ” predict “,” predict “,” potential “,” targeting “,” intention “,” could “,” could “,” should “,” believe “,” budget “and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding: IPC’s review of an issue of senior unsecured bonds, the size and terms of such bonds, the use of the proceeds of such bonds , the bond’s credit rating, and IPC’s ability and timing to complete such issue.
Forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions regarding: commodity prices and prevailing exchange rates; applicable royalty rates and tax laws; interest rate; future well production rates and volumes of reserves and contingent resources; operating costs; the timing of receipt of regulatory approvals; the performance of existing wells; the success achieved in drilling new wells; the timing and expected results of capital expenditures; the adequacy of the capital expenditure budgeted for the realization of the planned activities; the timing, location and extent of future drilling operations; successful acquisitions and divestitures; the benefits of acquisitions; the state of the economy and exploration and production activities in the jurisdictions in which IPC does business and around the world; the availability and cost of finance, labor and services; and the ability to successfully market crude oil, natural gas and natural gas liquids.
Although IPC believes that the expectations and assumptions upon which these forward-looking statements are based are reasonable, forward-looking statements should not be relied on unduly because IPC cannot guarantee that they will prove to be correct. Because forward-looking statements deal with future events and conditions, by their very nature they 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: risks associated with the oil and gas industry in general, such as operational risks associated with development, exploration and production; delays or changes in plans for exploration or development projects or capital expenditures; the uncertainty of estimates and projections of reserves, resources, production, income, costs and expenditure; risks to health, safety and the environment; fluctuations in commodity prices; fluctuations in interest rates and exchange rates; marketing and transport; loss of markets; environmental risks; competetion; poor assessment of the value of acquisitions; the inability to realize or realize the expected benefits of acquisitions or disposals; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including, but not limited to, tax laws, royalties and environmental regulations. Readers are cautioned that the above list of factors is not exhaustive.
Additional information on these and other factors that could affect IPC, or its operations or financial results, is included in the Management’s Discussion and Analysis (MD&A) for the nine-month period ended September 30, 2021 (see “Disclaimer concerning forward-looking information ”attached), the Company’s annual information form for the year ended December 31, 2020 (see“ Caution regarding forward-looking information ”,“ Notice on reserves and resources ”and“ risk ”contained therein) and other reports filed with applicable securities regulatory authorities, including prior financial reports, MD&A and material change reports, which may be viewed on the SEDAR website (www.sedar.com) or on the IPC website (www.international-petroleum.com).
All dollar amounts in this press release are in US dollars, unless otherwise indicated. References here to the USD mean the United States dollar. References here to CAD mean Canadian dollars.
IPC V5 Bond investors meeting Press release 11-01-2022