Veren Inc. has successfully closed its previously announced offering of CAD 1.0 billion aggregate principal amount of senior unsecured notes, consisting of CAD 550 million of 4.968% five-year notes priced at par and due June 2029, and CAD 450 million of 5.503% 10-year notes priced at par and due June 2034. The Notes have been assigned a rating of BBB (low), with a Stable trend, by DBRS Limited (Morningstar DBRS). The net proceeds from the Offering will be used to repay existing indebtedness under bank facilities, including fully retiring the Company's bank term loan.

The Notes will be direct, unsecured obligations of Veren that will rank equally with all other present and future unsecured and unsubordinated indebtedness of the Company and will be guaranteed on a senior unsecured basis by certain of Veren's subsidiaries. The Notes were offered in Canada on a private-placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Offering was led by RBC Capital Markets and Scotiabank, as Joint Lead Agents and Joint Bookrunners, and BMO Capital Markets as Joint Bookrunner.