International Petroleum Completes US$450 Million Placement to Fully Repay Existing Outstanding Bond Issue

02:47 PM EDT, 09/25/2025 (MT Newswires) -- International Petroleum Corporation (IPCFF) , an oil and gas exploration and production company, said on Thursday it has completed a US$450 million senior unsecured bond private placement offering to fully repay the company's existing outstanding bond issue by utilizing a call option.

A statement noted the bonds will have a tenor of five years and a fixed coupon rate of 7.50% per year, with interest paid in semi-annual installments. It said the bonds are expected to receive ratings of B+ and B1 from S&P Global Ratings and Moody's, respectively.

The company intends to make an application to list the bonds on the Oslo Stock Exchange, with settlement expected to occur on or around October 10, 2025.

"We are pleased to have taken advantage of favourable conditions in the debt capital markets to refinance our existing bonds," said William Lundin, IPC's President and Chief Executive Officer, comments. "We believe that this was an opportune time for IPC to refinance and extend the maturity of our bonds to October 2030, supported by the long-life nature of IPC's production profile and reserves. IPC has been performing very well operationally and financially in 2025 across all of our areas of operations, including the transformational Blackrod Phase 1 development project which remains on schedule and on budget."

Shares of International Petroleum (IPCFF) were last seen up $0.14, or near 0.6% to $24.23 on the Toronto Stock Exchange.

Price: 24.21, Change: +0.12, Percent Change: +0.50

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