Vermilion Energy Inc. Announces Filing of Westbrick Financial Information and Increase to Term Loan Facility

Rhea-AI Summary

Vermilion Energy (TSX: VET) (NYSE: VET) has made two significant announcements. First, the company has filed financial information regarding its proposed acquisition of Westbrick Energy on SEDAR+. Second, Vermilion has secured increased commitments from lenders to expand its fully underwritten term loan from $250 million to $450 million, with the loan maintaining its original maturity date of May 2028.

Positive

• Secured $200 million increase in term loan facility (from $250M to $450M)
• Successfully obtained lender commitments and consent for loan expansion

Negative

• Taking on additional debt through increased term loan

CALGARY, AB, Jan. 28, 2025 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) has filed certain financial information relating to its proposed acquisition of Westbrick Energy Ltd. on its profile on SEDAR+ (www.sedarplus.ca). In addition, the Company has received commitments and consent from lenders to increase the previously announced fully underwritten term loan maturing May 2028 from $250 million to $450 million.

About Vermilion

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia. The Company's business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions. Vermilion's operations are focused on the exploitation of light oil and liquids-rich natural gas conventional and unconventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.

Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-announces-filing-of-westbrick-financial-information-and-increase-to-term-loan-facility-302361974.html

SOURCE Vermilion Energy Inc.

FAQ

What is the new term loan amount for Vermilion Energy (VET) after the January 2024 increase?

Vermilion Energy's term loan facility has been increased from $250 million to $450 million, maturing in May 2028.

When does Vermilion Energy's (VET) expanded term loan facility mature?

The expanded term loan facility matures in May 2028.

What is the purpose of Vermilion Energy's (VET) financial information filing on SEDAR+?

The filing relates to Vermilion Energy's proposed acquisition of Westbrick Energy

How much did Vermilion Energy (VET) increase its term loan facility by in January 2024?

Vermilion Energy increased its term loan facility by $200 million, from $250 million to $450 million.