Parex completes US$500 million senior note offering
On May 11, 2026, Parex Resources Inc. (“Parex”) completed its previously announced private placement of US$500 million aggregate principal amount of senior unsecured notes due 2031.
The notes were offered priced at par and bear interest at a rate of 8.50% per annum and will mature on May 11, 2031.
The notes were offered through a syndicate of initial purchasers with Deutsche Bank Securities, Itaú BBA, Santander and Scotiabank as global coordinators and joint bookrunners, alongside BMO Capital Markets as passive Bookrunner, and BBVA and Bladex as co-managers.
Net proceeds of the offering will be deposited into an escrow account pending satisfaction of certain escrow release conditions, including the consummation of the previously announced acquisition of Frontera Energy Corporation’s exploration and production assets in Colombia (the “Frontera Transaction”) in all material respects in accordance with the arrangement agreement governing the Frontera Transaction.
Further information can be found on Globe Newswire’s website.
Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production, and its corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia.