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VET:CC - Vermilion Energy announces $400M senior notes offering
Vermilion Energy Inc.
Vermilion Energy (NYSE:VET) shares slipped 2.60% in pre-market trading after the energy producer provided Q1 financial and operational update and announced a proposed private offering of US$400M of 8-year senior unsecured notes. Net proceeds from the new notes will be used to reduce the amount outstanding on the firm's credit facility. Based on the completion of the offering, the company plans to reduce the size of its credit facility from $2.1B to $1.6B.