MEG Energy Corp. (ticker: MEG) announced today that is planning to commence, subject to market and other conditions, a private offering of US $750 million in aggregate principal amount of new senior secured notes due 2025 (the “Secured Notes”). The Secured Notes will initially be issued through a wholly-owned subsidiary of MEG. MEG intends to use the net proceeds, together with cash on hand, to finance the redemption of all of its outstanding 6.50% Senior Notes due March 15, 2021.

The Secured Notes to be offered by MEG will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Secured Notes are being offered only to qualified institutional buyers in the United States under Rule 144A and outside the United States in compliance with Regulation S under the U.S. Securities Act. In Canada, the Secured Notes are to be offered and sold on a private placement basis in certain provinces of Canada.


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