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Crown Point Announces Placement of US$30.0 Million of Series IX Notes
Globenewswire· 2026-01-30 23:22
Core Viewpoint - Crown Point Energy Inc. has successfully issued US$30 million in Series IX secured fixed-rate notes, which will be repaid in ten equal installments starting from October 30, 2026, with a fixed interest rate of 10.75% per annum [1][4]. Group 1: Offering Details - The Series IX Notes will be repaid in ten equal installments, with the final payment due on January 30, 2029 [1]. - Interest on the Series IX Notes is set at a fixed rate of 10.75% per annum, payable quarterly [1]. - The notes are secured by a pledge on crude oil sales collections from specific concessions: El Tordillo, Puesto Quiroga, and La Tapera [1]. Group 2: Use of Proceeds - The net proceeds from the Offering will be allocated for general corporate purposes and investments in asset development in Argentina [2]. Group 3: Outstanding Notes - Following the Offering, Crown Point has several notes outstanding, including US$1,780,058 of Series V Notes, US$22 million of Series VI Notes, US$25 million of Series VII Notes, and the newly issued US$30 million of Series IX Notes [4]. Group 4: Company Overview - Crown Point is an international oil and gas exploration and development company based in Buenos Aires, Argentina, and incorporated in Alberta, Canada [5]. - The company focuses its exploration and development activities in four producing basins in Argentina: Golfo San Jorge, Austral, Neuquén, and Cuyano [5].