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MOSS CREEK RESOURCES HOLDINGS, INC. ANNOUNCES REDEMPTION OF 2026 AND 2027 SENIOR NOTES

BY PR Newswire | CORPORATE | 08/27/24 04:00 PM EDT

HOUSTON, Aug. 27, 2024 /PRNewswire/ --?Moss Creek Resources Holdings, Inc. (the "Company"), a wholly-owned subsidiary of Surge Energy US Holdings Company, announced today that it has redeemed all outstanding principal of its 7.5% senior unsecured notes due 2026 and its 10.5% senior unsecured notes due 2027.? In aggregate, this debt redemption was approximately $999 million.? Redemption of the notes was completed with the proceeds from the issuance of the $750.0 million 8.25% senior unsecured notes due 2031 that closed on August 16, 2024, and cash from the balance sheet.

This refinancing reduces the Company's gross long-term debt from approximately $999 million to $750 million and is estimated to save the Company approximately $25 million in interest annually.

Moss Creek Resources Holdings, Inc. Investor Relations
investorrelations@surgeenergya.com

View original content:https://www.prnewswire.com/news-releases/moss-creek-resources-holdings-inc-announces-redemption-of-2026-and-2027-senior-notes-302231874.html

SOURCE Moss Creek Resources Holdings, Inc.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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