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International Petroleum Plans US$450M Bond Issue to Refinance Debt, Reports Share Buybacks

BY MT Newswires | CORPORATE | 09/22/25 08:00 AM EDT

08:00 AM EDT, 09/22/2025 (MT Newswires) -- International Petroleum (IPCFF) , a global oil and gas exploration and production company, made news twice Monday as it plans fixed-income investor meetings for a potential rated senior unsecured bond issue to refinance its existing bond and reports the results of its normal course issuer bid.

The company mandated Arctic Securities and Pareto Securities as global coordinators and joint bookrunners, along with Clarksons Securities as joint bookrunner and SB1 Markets as co-manager, to arrange a series of fixed income investor meetings starting September 22.

The company said that a new US$450 million 5-year senior unsecured bond issuance may follow, subject to market conditions, to repay its existing $450 million outstanding bond by utilizing the call option. The existing bond issue is rated B+ by S&P Global Ratings and B1 by Moody's.

International Petroleum (IPCFF) also said that it repurchased a total of 59,454 IPC common shares during the period of September 15 to 19, 2025, under its normal course issuer bid.

During that period, the company repurchased 44,754 IPC common shares on Nasdaq Stockholm and purchased 14,700 IPC common shares on the Toronto Stock Exchange.

All of the share repurchases on Nasdaq Stockholm were carried out by Pareto Securities AB and share repurchases on TSX were carried out by ATB Securities. All common shares repurchased by International Petroleum (IPCFF) under the NCIB will be cancelled.

The company said that a total of 7.32 million IPC common shares have been repurchased under the NCIB since December 5, 2024 up to and including September 19, 2025, through the facilities of the TSX and Nasdaq Stockholm.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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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.

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