11:59 AM EST, 01/28/2025 (MT Newswires) -- Bonterra Energy ( BNEFF ) on Tuesday said it closed a $135-million private placement offering of 10.5% senior secured second lien notes due 2030.

The Notes carry a Morningstar DBRS rating of B with a stable trend.

Bonterra confirmed it fully repaid the second lien term loan. The rest of the proceeds have been used to repay the amount drawn under the revolving first lien credit facility.

Bonterra also expects to draw on its revolving first lien credit facility to fund the redemption of its 9.00% senior unsecured debentures due Oct. 2. The redemption price will be $1,072.50 per $1,000.00 principal amount of the debentures.

The company's shares were last seen down $0.02 to $3.65 on the Toronto Stock Exchange.

Price: 3.65, Change: -0.02, Percent Change: -0.54