05:18 PM EST, 01/28/2025 (MT Newswires) -- Vermilion Energy Inc. ( VET ) after trade Monday detailed the pricing of its private offering of up to US$400 million of eight-year senior unsecured notes.

The notes will have a maturity date of Feb. 15, 2033 and a fixed coupon of 7.25% per annum, to be paid semi-annually.

The offering is expected to close on or about Feb. 11. The company plans to use proceeds to redeem or repay the outstanding amount of the existing 5.625% senior notes due 2025, to fund a portion of the purchase price of the acquisition of Westbrick Energy, to pay transaction fees and other costs associated with the redemption or repayment of the existing Vermilion notes and the Westbrick acquisition, and to repay a portion of the outstanding borrowings under the company's credit facilities.

Vermilion shares closed down $0.13 to $13.65 on the Toronto Stock Exchange.