Harvest Operations Corp. Announces Closing of U.S. $285 Million 3% Senior Note Offering


CALGARY, ALBERTA–(Marketwired – Sept. 21, 2017) – Harvest Operations Corp. (“Harvest” or the “Company”) is pleased to announce that it has closed its offering of U.S.$ 285 million senior unsecured notes due 2022 with a coupon rate of 3% (the “Notes”).

Harvest intends to use the net proceeds of the offering to repay in full Harvest’s outstanding approximately U.S.$282,500,000 aggregate principal amount of 67/8% Senior Notes due October 1, 2017.

Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for the listing and quotation of the Notes on the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement. Approval in-principle from, admission to the Official List of, and the listing and quotation of the Notes on, the SGX-ST are not to be taken as an indication of the merits of the Company or the Notes.

Title of Security Rule 144A
CUSIP and ISIN Numbers
Regulation S
CUSIP and ISIN Numbers
Aggregate Principal
Amount Outstanding
3% Senior Notes due 2022 CUSIP: 41754W AR2 CUSIP: C42970 AE0 $285,000,000
ISIN: US41754WAR25 ISIN: USC42970AE03

The Notes have not been registered under the Securities Act of 1933, as amended (the “Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Act. The offering has been made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the Act, or to certain persons outside of the United States pursuant to Regulation S under the Act.

This press release is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offering, solicitation or sale would be unlawful.

HARVEST CORPORATE PROFILE

Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation (“KNOC”). Harvest is a significant operator in Canada’s energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold).

KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp.

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