On June 17, 2025, Whitecap Resources Inc. announced the pricing of a private placement offering of $300 million aggregate principal amount of 3.761% senior unsecured notes due June 19, 2028. The notes were issued at par and bear a fixed annual interest rate of 3.761%, payable until maturity. The offering was made exclusively in Canada on a private-placement basis.

The issuance reflects Whitecap’s strengthened credit profile, supported by its upgraded BBB (stable trend) credit rating from Morningstar DBRS, which also provisionally rated the notes the same. The notes are direct, unsecured obligations of the company and will rank equally with all current and future unsecured and unsubordinated indebtedness.

Whitecap successfully closed the offering on June 19, 2025. The gross proceeds of $300 million will be used to repay existing indebtedness and for general corporate purposes.

The transaction is part of the company’s broader financial strategy to enhance flexibility and optimize its capital structure. The closing of the offering was subject to customary conditions, all of which were satisfied.