NorthRiver Midstream completes tender offer and U.S. private placement

Torys acted as Canadian counsel to the initial purchasers and dealer managers with a team that included Kevin Fougere and Amy Nugent (lending), Janan Paskaran, Donald Baker and Devan Fafard (corporate/securities), Craig Maurice and Steve Marshall (tax).

On June 28, 2024, NorthRiver Midstream Finance LP (“NorthRiver Midstream") announced the expiration and pricing of its previously announced cash tender offer of 5.625% senior secured notes due 2026. At the time of expiration, US$472,937,000 of the US$525,000,000 outstanding aggregate principal amount of notes were validly tendered and not withdrawn in the tender offer.

NorthRiver Midstream funded the purchase price for the notes tendered with the net proceeds it received from the sale of US$525,000,000 aggregate principal amount of its 6.750% senior secured notes, due July 15, 2032, by way of a private placement in the United States.

RBC Capital Markets, LLC and CIBC World Markets Corp. acted as joint dealer managers.

The tender offer and concurrent private placement successfully closed on July 3, 2024.

Further information can be found on Newswire’s website.

NorthRiver Midstream is a Canadian gas gathering and processing business with operations across prolific gas and oil resource plays in Northeast British Columbia and Alberta.