02:58 PM EDT, 10/25/2024 (MT Newswires) -- Whitecap Resources ( SPGYF ) was at last look up about 0.8% on Friday afternoon as it priced an offering of $400 million aggregate principal amount of senior unsecured notes due November 1, 2029.

A statement noted the notes will be issued at par for gross proceeds of $400 million and will bear interest at a fixed rate of 4.382% per annum, with the net proceeds to be used to repay existing indebtedness.

Whitecap said it recently announced a public investment grade credit rating of BBB (low), with a stable trend, issued by DBRS, Inc., "reflecting its strong credit profile and underpinned by its premium portfolio of drilling opportunities along with asset duration". The notes have also been assigned a provisional rating of BBB (low), with a stable trend, by Morningstar DBRS.

Price: 10.63, Change: +0.09, Percent Change: +0.81