Peyto Exploration & Development Corp. Announces Closing of Private Placement of Senior Notes

CALGARY, Alberta, Jan. 03, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (TSX: PEY) (“Peyto”) is pleased to confirm that it has closed an issuance of CDN$100 million of senior unsecured notes.  The notes have a coupon rate of 4.39% and mature on January 3, 2026.  The notes were issued by way of a private placement pursuant to a note purchase agreement and rank equally with Peyto’s obligations under its bank facility and existing note purchase agreements. Interest will be paid semi-annually in arrears. Proceeds from the notes will be used to repay the senior notes of Peyto which matured on January 3, 2019.  The issuance of the senior notes maintains Peyto’s aggregate borrowing capacity at $1.92 billion.

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