07:33 AM EST, 01/17/2025 (MT Newswires) -- Bonterra Energy ( BNEFF ) said late Thursday that it launched an offering of $135 million in five-year, 10.50% senior secured second lien notes through a private placement.

Closing is expected on or about Jan. 28.

The company plans to use the proceeds to fully repay its senior unsecured debentures and amounts owing under the second lien term loan. Bonterra also plans to repay a portion of the amount drawn under the revolving first lien credit facility, to pay related transaction expenses and/or for general corporate purposes.

The notes will mature on or about Jan. 28, 2030 and will be issued at $981.16 per $1,000 principal amount.

Bonterra's share price fell 2.9% on Thursday to $3.62 on the TSX.