Core Viewpoint - Obsidian Energy has successfully closed a private placement offering of $175 million in senior unsecured notes due in 2030, while redeeming existing notes due in 2027, thereby restructuring its debt profile and improving financial flexibility [1][2]. Group 1: Financial Details - The company issued $175 million of 8.125% five-year senior unsecured notes due December 3, 2030, at par [1]. - A portion of the proceeds from the offering was used to redeem $80.8 million of 11.95% senior unsecured notes due July 27, 2027 [2]. - The remaining proceeds were allocated to pay down debt under a $235 million syndicated credit facility, which had approximately $8 million outstanding at closing [2]. Group 2: Underwriters and Regulatory Information - BMO Capital Markets and RBC Capital Markets acted as bookrunners for the offering [3]. - The 2030 Notes are not registered under U.S. securities laws and are offered only under applicable exemptions [3]. Group 3: Company Overview - Obsidian Energy is an intermediate-sized oil and gas producer with a diverse portfolio of high-quality assets primarily located in Alberta [5]. - The company focuses on exploring, developing, and holding interests in oil and natural gas properties within the Western Canada Sedimentary Basin [5].

Financial Performance - The company's net investment income and adjusted net investment income per share for Q3 2025 was $040, resulting in an annualized net investment income yield on book value of 125%[11] - The company's earnings per share for Q3 2025 was $022[11] - The company's net asset value (NAV) per share decreased by 21% to $1275 as of September 30, 2025, from $1302 as of June 30, 2025[11] - The company declared a Q4 2025 base dividend of $032 per share[11] - The company also declared a Q3 2025 supplemental dividend of $004 per share[11] Portfolio Composition and Investment Activity - As of September 30, 2025, the company's total investments at fair value and commitments were $38332 million, invested in 171 portfolio companies across 40 industries, with 982% in senior secured debt, including 967% in first lien investments[11] - The company had new investment commitments of approximately $4706 million, of which $2669 million were funded[11] - Sales and repayments activity totaled $3744 million, resulting in net funded investment activity of $(598) million[11] - As of September 30, 2025, investments on non-accrual status amounted to 15% and 25% of the total investment portfolio at fair value and amortized cost, respectively[11] Debt and Leverage - The company's ending net debt-to-equity ratio was 117x as of September 30, 2025, compared to 112x as of June 30, 2025[11] - As of September 30, 2025, 702% of the company's approximately $18530 million aggregate principal amount of debt outstanding was comprised of unsecured debt and 298% was comprised of secured debt[11]

Core Viewpoint - Weatherford International plc has announced the pricing of $1,200 million aggregate principal amount of its 6.75% Senior Notes due 2033, which is a $600 million increase from the previously announced offering size [1] Group 1: 2033 Notes Offering - The 2033 Notes Offering is expected to close on October 6, 2025, subject to customary closing conditions [1] - The 2033 Notes have not been registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers and non-U.S. persons [4] Group 2: Use of Proceeds - The net proceeds from the 2033 Notes Offering will be used to fund a tender offer for the 8.625% Senior Unsecured Notes due 2030, which has been upsized to $1,300 million [2] - The proceeds will also cover accrued and unpaid interest on the 2030 Notes and related transaction fees and expenses [2] Group 3: Tender Offer Conditions - The Tender Offer is conditioned on the consummation of the 2033 Notes Offering, while the 2033 Notes Offering is not conditioned on the Tender Offer [3]

Core Viewpoint - Groupon, Inc. has announced a financing transaction involving the exchange of existing convertible senior notes for newly issued convertible senior notes, totaling $244 million in principal amount [1][2]. Group 1: Financing Details - Groupon will exchange $20 million of its 1.125% Convertible Senior Notes due 2026 for $20 million of newly issued 4.875% Convertible Senior Notes due 2030 [1]. - Additionally, Groupon will exchange $150 million of its 6.25% Convertible Senior Secured Notes due 2027 for $224.071 million of the 2030 Notes [1][2]. - The total principal amount of the 2030 Notes expected to be issued is $244.071 million [2]. Group 2: Terms of the 2030 Notes - The 2030 Notes will be senior unsecured obligations and will accrue interest payable semiannually [2]. - The initial conversion rate is set at 18.5031 shares of common stock per $1,000 principal amount, equating to an initial conversion price of approximately $54.04 per share, which is a 50% premium over the Nasdaq closing price on June 17, 2025 [3]. - Groupon has the option to redeem the 2030 Notes for cash starting July 2, 2028, under certain conditions [4]. Group 3: Conversion Conditions - Prior to March 31, 2030, the 2030 Notes will be convertible only under specific conditions related to the stock price performance [5]. - After March 31, 2030, holders can convert their notes regardless of prior conditions [5]. - In the event of a "fundamental change," holders may require Groupon to repurchase the notes at a specified price [6][7]. Group 4: Proposed Amendments - Approximately 76% of the holders of the 2027 Notes have agreed to vote in favor of proposed amendments that will remove most restrictive covenants and release collateral securing the obligations under the 2027 Notes [8].

Core Viewpoint - Norwegian Cruise Line Holdings Ltd. and its subsidiary NCL Corporation Ltd. have entered into note exchange agreements to exchange existing 5.375% Exchangeable Senior Notes due 2025 for newly issued 0.875% Exchangeable Senior Notes due 2030, along with a cash payment [1][2]. Group 1: Transactions Overview - NCL Corporation Ltd. will exchange $285,425,000 in aggregate principal amount of 2025 Notes for $285,425,000 in newly issued 2030 Notes and a cash payment of $51,624,820 [1]. - The cash payment will be funded by proceeds from a concurrent Equity Offering of 2,708,533 ordinary shares at a price of $19.06 per share [2]. - The closing of these transactions is expected around April 7, 2025, with approximately $164,565,000 of the 2025 Notes remaining outstanding post-transaction [3]. Group 2: Notes Details - The 2030 Notes will be general senior unsecured obligations of NCL Corporation Ltd. and guaranteed by Norwegian Cruise Line Holdings Ltd. [4]. - Holders of the 2030 Notes can exchange them at any time before October 15, 2029, and thereafter until the maturity date, with an initial exchange rate of 38.1570 ordinary shares per $1,000 principal amount [4]. - The initial exchange price of approximately $26.21 per ordinary share represents a premium of about 37.5% over the offering price in the Equity Offering [4]. Group 3: Offering and Placement - Barclays Capital Inc. is acting as the exclusive placement agent for the Equity Offering, which is made under an automatic shelf registration statement filed with the SEC [5]. - The 2030 Notes are issued in a private placement relying on the exemption from registration under the Securities Act of 1933 [6].