Crescent Point Energy Corp announces closing of a private placement of notes

CALGARY, March 24 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") is pleased to announce that it has closed a private placement of long-term debt in the form of senior guaranteed notes to a group of institutional investors. The notes issued pursuant to the private placement are unsecured and rank equally with Crescent Point's obligations under its bank facilities. In total, US$260 million and CDN$50 million was raised through four separate series of notes under various terms and rates as described in the table below.

    
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       Amount            Term                             Coupon Rate
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       US$37.5 million   5-year term repayable in 2015       4.71%
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       US$67.5 million   7-year term repayable in 2017       5.48%
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       US$155 million    10-year term repayable in 2020      6.03%
       --------------------------------------------------------------
       CDN$50 million    5-year term repayable in 2015      4.924%
       --------------------------------------------------------------
    

Proceeds from the offering were used to repay a portion of the Company's outstanding bank debt.

RBC Capital Markets acted as lead placement agent on the offering, and HSBC Securities (USA) Inc. and National Bank of Canada acted as co-placement agents.

The senior notes have not and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Crescent Point Energy Corp. is a conventional oil and gas producer with assets strategically focused in properties comprised of high-quality, long-life, operated light and medium oil and natural gas reserves in western Canada.

    
    CRESCENT POINT ENERGY CORP.

    Scott Saxberg,
    President and Chief Executive Officer
    

Crescent Point shares are traded on the Toronto Stock Exchange under the symbol CPG.

For further information: Greg Tisdale, Chief Financial Officer, or Trent Stangl, Vice President Marketing and Investor Relations, Telephone: [phone], Toll free (US & Canada): 888-693-0020, Fax: [phone], Website: www.crescentpointenergy.com