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Baytex Power Corp. (TSX: BTE) (NYSE: BTE) (“Baytex” or the “Firm”) in the present day introduced that it has closed the sale of its U.S. Eagle Ford Belongings for internet proceeds of US$2.14 billion (roughly $2.96 billion in Canadian {dollars}) after closing changes.
This strategic divestiture considerably strengthens Baytex’s monetary place and sharpens its deal with a high-return Canadian vitality platform, positioning the Firm for long-term worth creation. With the closing of the transaction, Baytex is now in a internet money place. The Firm intends to make use of a portion of those proceeds to repay its excellent credit score services and redeem its excellent 8.500% Senior Notes due 2030 (the “2030 Notes”) and has additionally commenced a money tender supply for its US$575 million of excellent 7.375% Senior Notes due 2032 (the “2032 Notes”).
Baytex stays dedicated to returning a good portion of the online proceeds (after debt reimbursement) to shareholders and intends to renew purchases beneath its regular course issuer bid.
Baytex expects to launch its 2026 steering on December 22, 2025.
Advisory Relating to Ahead-Trying Statements
Sure statements on this press launch are “forward-looking statements” inside the which means of the USA Personal Securities Litigation Reform Act of 1995 and “forward-looking data” inside the which means of relevant Canadian securities laws (collectively, “forward-looking statements”). Ahead-looking statements on this information launch could be recognized by phrases resembling “anticipate”, “intend”, “commit” or related expressions and contains strategies of future outcomes, occasions or efficiency.
Particularly, this press launch comprises forward-looking statements referring to however not restricted to: the impact of the divestiture on Baytex’s monetary place, Baytex’s deal with a high-return Canadian vitality platform and place for long-term worth creation; that the online proceeds can be used to repay credit score services, redeem the 2030 Notes and repurchase the 2032 Notes; that a good portion of the online proceeds can be returned to shareholders; that Baytex intends to renew purchases beneath its regular course issuer bid; and the anticipated timing of launch of Baytex’s 2026 steering.
Creating forward-looking data entails reliance on plenty of assumptions and consideration of sure dangers and uncertainties, a few of that are particular to Baytex and others that apply to the trade typically. These dangers referring to Baytex embrace, however aren’t restricted to, the danger that Baytex doesn’t understand the anticipated advantages of the strategic divestiture; the danger that the online proceeds aren’t used as at present anticipated; the danger that Baytex doesn’t resume purchases beneath its regular course issuer bid; and the danger that Baytex doesn’t launch its 2026 steering on the timing anticipated.
These assumptions embrace, amongst different issues: that the Firm will obtain the anticipated advantages of the strategic divestiture; that the online proceeds can be used as anticipated, that Baytex is ready to resume its regular course issuer bid; and that holders of the 2032 Notes will tender their 2032 Notes for repurchase.
The forward-looking statements contained on this press launch are made as of the date hereof and the Firm doesn’t undertake any obligation to replace publicly or to revise any of the included forward-looking statements, besides as required by relevant regulation. The forward-looking statements contained herein are expressly certified by this cautionary assertion.
The longer term acquisition by Baytex of its widespread shares beneath its regular course issuer bid, if any, and the extent thereof is unsure. Any determination to accumulate widespread shares of Baytex pursuant to its regular course issuer bid can be topic to the discretion of the board of administrators of Baytex and should depend upon a wide range of components, together with, with out limitation, Baytex’s enterprise efficiency, monetary situation, monetary necessities, development plans, anticipated capital necessities and different circumstances present at such future time together with, with out limitation, contractual restrictions and satisfaction of the solvency exams imposed on Baytex beneath relevant company regulation. There could be no assurance of the variety of widespread shares of Baytex that the Firm will purchase pursuant to its regular course issuer bid, if any, sooner or later.
Baytex Power Corp.
Baytex Power Corp. is a Calgary-based vitality firm dedicated to driving shareholder worth via disciplined execution. It operates a high-quality, high-return portfolio within the Western Canadian Sedimentary Basin, that includes the Pembina Duvernay and heavy oil performs in Alberta and Saskatchewan. These core property are backed by an in depth drilling stock and persistently generate robust money circulate. Baytex’s widespread shares commerce on the Toronto Inventory Alternate and the New York Inventory Alternate beneath the image BTE.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/278715
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