Latest news with #ARC
Cision Canada
2 hours ago
- Business
- Cision Canada
ARC RESOURCES LTD. ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES
CALGARY, AB, June 3, 2025 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") announced today an offering of C$1.0 billion aggregate principal amount of senior unsecured notes (the "Offering"), consisting of C$550 million aggregate principal amount of 3.577% Senior Unsecured Notes, Series 3 due 2028 (the "Series 3 Notes") and C$450 million aggregate principal amount of 4.409% Senior Unsecured Notes, Series 4 due 2032 (the "Series 4 Notes", together with the Series 3 Notes, the "Notes"). The closing of the Offering is expected to occur on or about June 17, 2025. DBRS Morningstar has assigned a provisional rating of BBB with a Stable trend to the Notes. ARC intends to use the net proceeds of the Offering, together with the previously announced committed term loan and drawings under ARC's existing credit facilities, to purchase the Kakwa Assets from Strathcona Resources Ltd. pursuant to the definitive agreement (the "Agreement") announced on May 14, 2025 (the "Transaction"), and the balance remaining, if any, will be used for general corporate purposes. The Notes will be direct, senior unsecured obligations of ARC and will rank equally and pari passu with all other existing and future unsecured and unsubordinated indebtedness of the Company. If the closing of the Transaction has not occurred on or prior to the later of October 15, 2025 and the outside date under the Agreement, which may be extended, or if, prior to such time, the Agreement is terminated in accordance with its terms, or ARC issues a news release announcing, or notifies the trustee for the Notes, that it does not intend to proceed with the Transaction, each of the Notes will be subject to a special mandatory redemption at a price equal to 101 percent of the principal amount of the Notes, plus accrued and unpaid interest, if any, to the date of such special mandatory redemption. The Notes are being offered through a syndicate of agents co-led by RBC Capital Markets, CIBC Capital Markets, TD Securities, and Scotiabank. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and will not be offered or sold in the United States. The Notes are being offered only to persons outside the United States in compliance with Regulation S under the U.S. Securities Act. In Canada, the Notes are to be offered and sold on a private placement basis in each of the provinces of Canada. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation, or sale in the United States or any jurisdiction in which such an offer, solicitation, or sale would be unlawful. Resale of the Notes will be subject to restrictions under applicable securities legislation which vary depending on the relevant jurisdictions. This news release does not constitute an offer to purchase the Notes. Forward-looking Information and Statements This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect," "anticipate," "continue," "estimate," "objective," "ongoing," "may," "will," "project," "should," "believe," "plans," "intends," "strategy," and similar expressions are intended to identify forward-looking information or statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the following: the proposed Offering and the terms thereof, the expected credit rating of the Notes, the intended use of proceeds from the Offering, the anticipated closing date of the Offering and the completion of the Transaction, including the anticipated timing thereof. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements, including, but not limited to that the Transaction and/or the Offering may not be completed on a timely basis, if at all; the conditions of the Transaction or the Offering may not be satisfied; the terms of the Notes may change from that disclosed herein; the use of proceeds from the Offering may change from that disclosed herein; the risk that the Notes, if issued, may be subject to the special mandatory redemption; changes to credit ratings from the provisional rating disclosed herein; general business and economic conditions; and those risks detailed in ARC's most recently filed Management's Discussion and Analysis and Annual Information Form. These forward-looking statements and information are based on certain key expectations and assumptions made by ARC, including, but not limited to, the satisfaction of the conditions to closing of the Transaction in a timely manner and on the expected terms; the provisional credit rating for the Notes; anticipated market conditions; completion of the Offering; and the anticipated terms of the Notes and the use of proceeds therefrom. Although ARC believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as ARC cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and ARC assumes no obligation to publicly update or revise such information or statements to reflect new events or circumstances, except as may be required pursuant to applicable laws. Credit Ratings Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold, or sell securities and do not address the market price or suitability of a specific security for a particular investor. There is no assurance that any rating will remain in effect for any given period of time or that any rating will not be revised or withdrawn entirely by a rating agency in the future if, in its judgment, circumstances so warrant. About ARC ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.
Yahoo
3 hours ago
- Business
- Yahoo
ARC RESOURCES LTD. ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES
CALGARY, AB, June 3, 2025 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") announced today an offering of C$1.0 billion aggregate principal amount of senior unsecured notes (the "Offering"), consisting of C$550 million aggregate principal amount of 3.577% Senior Unsecured Notes, Series 3 due 2028 (the "Series 3 Notes") and C$450 million aggregate principal amount of 4.409% Senior Unsecured Notes, Series 4 due 2032 (the "Series 4 Notes", together with the Series 3 Notes, the "Notes"). The closing of the Offering is expected to occur on or about June 17, 2025. DBRS Morningstar has assigned a provisional rating of BBB with a Stable trend to the Notes. ARC intends to use the net proceeds of the Offering, together with the previously announced committed term loan and drawings under ARC's existing credit facilities, to purchase the Kakwa Assets from Strathcona Resources Ltd. pursuant to the definitive agreement (the "Agreement") announced on May 14, 2025 (the "Transaction"), and the balance remaining, if any, will be used for general corporate purposes. The Notes will be direct, senior unsecured obligations of ARC and will rank equally and pari passu with all other existing and future unsecured and unsubordinated indebtedness of the Company. If the closing of the Transaction has not occurred on or prior to the later of October 15, 2025 and the outside date under the Agreement, which may be extended, or if, prior to such time, the Agreement is terminated in accordance with its terms, or ARC issues a news release announcing, or notifies the trustee for the Notes, that it does not intend to proceed with the Transaction, each of the Notes will be subject to a special mandatory redemption at a price equal to 101 percent of the principal amount of the Notes, plus accrued and unpaid interest, if any, to the date of such special mandatory redemption. The Notes are being offered through a syndicate of agents co-led by RBC Capital Markets, CIBC Capital Markets, TD Securities, and Scotiabank. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and will not be offered or sold in the United States. The Notes are being offered only to persons outside the United States in compliance with Regulation S under the U.S. Securities Act. In Canada, the Notes are to be offered and sold on a private placement basis in each of the provinces of Canada. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation, or sale in the United States or any jurisdiction in which such an offer, solicitation, or sale would be unlawful. Resale of the Notes will be subject to restrictions under applicable securities legislation which vary depending on the relevant jurisdictions. This news release does not constitute an offer to purchase the Notes. Forward-looking Information and Statements This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect," "anticipate," "continue," "estimate," "objective," "ongoing," "may," "will," "project," "should," "believe," "plans," "intends," "strategy," and similar expressions are intended to identify forward-looking information or statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the following: the proposed Offering and the terms thereof, the expected credit rating of the Notes, the intended use of proceeds from the Offering, the anticipated closing date of the Offering and the completion of the Transaction, including the anticipated timing thereof. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements, including, but not limited to that the Transaction and/or the Offering may not be completed on a timely basis, if at all; the conditions of the Transaction or the Offering may not be satisfied; the terms of the Notes may change from that disclosed herein; the use of proceeds from the Offering may change from that disclosed herein; the risk that the Notes, if issued, may be subject to the special mandatory redemption; changes to credit ratings from the provisional rating disclosed herein; general business and economic conditions; and those risks detailed in ARC's most recently filed Management's Discussion and Analysis and Annual Information Form. These forward-looking statements and information are based on certain key expectations and assumptions made by ARC, including, but not limited to, the satisfaction of the conditions to closing of the Transaction in a timely manner and on the expected terms; the provisional credit rating for the Notes; anticipated market conditions; completion of the Offering; and the anticipated terms of the Notes and the use of proceeds therefrom. Although ARC believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as ARC cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and ARC assumes no obligation to publicly update or revise such information or statements to reflect new events or circumstances, except as may be required pursuant to applicable laws. Credit Ratings Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold, or sell securities and do not address the market price or suitability of a specific security for a particular investor. There is no assurance that any rating will remain in effect for any given period of time or that any rating will not be revised or withdrawn entirely by a rating agency in the future if, in its judgment, circumstances so warrant. About ARC ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX. ARC RESOURCES LTD. Please visit ARC's website at or contact Investor Relations:E-mail: IR@ (403) 503-8600Fax: (403) 509-6427Toll Free: 1-888-272-4900ARC Resources 1500, 308 - 4 Avenue SWCalgary, AB T2P 0H7 SOURCE ARC Resources Ltd. View original content to download multimedia: Sign in to access your portfolio
Indian Express
5 days ago
- Politics
- Indian Express
Four rounds of CAP: Maharashtra tweaks admission process for engineering diploma
The state government has announced major changes in the application process for engineering diploma, days after the admission process commenced. From this year, there will be four rounds of the Centralised Admission Process (CAP) instead of three held until now. The idea is to ensure maximum admissions are completed through the centralised process before institute level rounds start for leftover seats. Furthermore, there are additional conditions applicable now for candidates to confirm admission. While it was always mandatory for students to confirm admission if allotted a seat in the first college of their preference, this condition is now extended up to three and six colleges for second and third rounds respectively, as per the revised process. If a candidate is allotted the seat as per his first three and six preferences in Rounds 1 and 2 respectively, such allotment shall automatically be fixed for the candidate and he/she has to accept the allotment by visiting Admission Reporting Centre (ARC) to confirm the admission. If the candidate fails to confirm the admission, then his claim on the allotted seat shall stand forfeited automatically. An official from the Directorate of Technical Education, which conducts the admissions, explained, 'In the first round of CAP, existing rules will continue which makes it mandatory for candidates to confirm admission if allotted a seat in the first college of their preference. But now, in the second round too, candidates will have to confirm admission, if allotted a seat in the first three colleges from the preference list. In the third round, the same condition will be applicable if allotted a seat among the top six colleges from the preference list.' The official said this is expected to reduce blocking of seats by candidates while they wait to secure admission in better colleges in subsequent rounds. 'This condition will ensure maximum admissions are confirmed in the third round. With one additional round of CAP, maximum students from the remaining lot too will get admission through a centralized process, which ensures transparency,' said the official. Application registration has begun for diploma admissions, which will continue until June 16 and a provisional merit list will be declared on June 18. Applicants will have three days thereafter to register grievances if any, and a final merit list will be out on June 23. Students who have passed Class 10 are eligible for admission to various engineering diploma courses.
Black America Web
27-05-2025
- General
- Black America Web
Black Architects, Student Leaders Unite To Rebuild Altadena
Source: Mario Tama / Getty As residents of Altadena work to restore thousands of homes lost in January's devastating Eaton Fire, one group is lending their expertise to help neighbors recover. In the wake of the historic wildfire, a coalition of Black architects, engineers, and other industry professionals founded the Altadena Rebuild Coalition (ARC). As members of the Southern California Chapter of the National Organization of Minority Architects (SoCal NOMA)—several of whom lost homes in the Los Angeles wildfires—they recognized the vital role they would play in the road ahead as residents navigate rebuilding their lives from the ground up. 'It seemed like a perfect opportunity for us to share our knowledge and expertise in a way that could help the community,' said Matthew J. Trotter, president of SoCal NOMA. Members of the diverse organization include architects, designers, civil engineers, urban planners, and more. The idyllic foothill community was hardest hit by the Eaton Fire, which destroyed over 9,000 structures—including homes and businesses—in and around Altadena. According to UCLA researchers, Altadena's Black residents were disproportionately impacted by the Eaton Fire, with nearly half of Black households in Altadena destroyed or badly damaged by the fire. The ARC is offering free guidance to help impacted neighbors navigate the rebuilding process, holding workshops and gatherings to provide information, resources, and mutual support. As wildfire victims navigate the lengthy process of rebuilding their residences, they're faced with a lot to process—from fending off scammers and predatory developers, to decoding insurance policies, soil testing, and more. That's where ARC is working to close the gap. 'We're setting ourselves up to be a trusted partner in the community that they can come to with these issues and we can help steer them in the right direction,' Eletrice Harris of SoCal NOMA told AfroLA. Source: Mario Tama / Getty 'I'd like to keep Altadena, Altadena,' said architect Charles T. Bryant, who has lived in Altadena for over 40 years. After losing his home in the Eaton Fire, he's now working with the ARC to preserve the fabric of the community by helping neighbors stay and rebuild. 'People on this street, we've known each other for years. Very few people move out of this area,' said Bryant. 'I don't want to see large developers coming in buying up multiple properties and stamping out houses like cookie cutters.' Bryant, principal architect of the award-winning Masbuild Design Solutions, is listed on the ARC's professional directory among fellow industry experts offering their services to those navigating the rebuilding process. In addition to connecting people with the right experts, the ARC hosts events to provide the community with vital information and a clear path forward. At a recent gathering held at the Altadena Library this month, a panel of experts discussed 'Architecture: Rebuilding with Equity, Sustainability & Fire Safety.' Michael Anderson, a panelist at the event, is also working with the ARC, using his expertise in designing innovative, equitable spaces to move Altadena's recovery forward. He's a principal at Anderson Barker, an award-winning design firm based in LA, and author of Urban Magic: Vibrant Black and Brown Communities Are Possible . Anderson is working alongside future architects like Kianna Armstrong, a senior at the USC School of Architecture. With a background in community outreach, Armstrong joined the ARC to assist those affected by the Eaton Fire. She is a co-founder of Architecture + Advocacy, a student-led nonprofit focused on community-centered design. 'Community members aren't asked for their opinion until it's really too late to implement anything into the design process,' Armstrong explained. 'So we decided to create Architecture + Advocacy, where we host workshops, design small-scale builds and offer other community engagement activities in order to have these conversations with community members: what do you envision for your community in the future?' Through the ARC, Armstrong is engaging with residents to better understand their needs, helping the coalition tailor resources and support. 'Something that we recognize as part of the Altadena Rebuild Coalition—and part of Architecture + Advocacy—is that listening and understanding the needs of the community is step one in all of this,' said Armstrong, who is also pursuing her Master of Science in Social Entrepreneurship (MSSE) at USC. It's about making sure that everyone has access to the resources so we have an equitable rebuilding process. We want to make sure that rebuilding will not have the same undertones of injustice that building has had in the past. Kianna Armstrong, Architecture + Advocacy With student leaders like Armstrong working alongside established professionals like Anderson, a spirit of collaboration is driving their efforts. 'I'm basically taking what Kianna and others are doing with advocacy and helping them have a tangible solution to how we get the people of Altadena in housing on their lots,' said Anderson. Altadena is home to multigenerational Black families, a place where Black homeownership long exceeded both state and national averages. The community's rich legacy only deepened the fire's devastation. For generations, Altadena stood as a haven of racial and economic inclusion, where generations of Black families put down roots. At a time when pervasive housing discrimination excluded them from purchasing homes in surrounding areas, Altadena offered a chance to settle and thrive. 'Altadena is a place where Black people were able to break through a lot of barriers to getting housing and building generational wealth,' said Armstrong. 'So, to have that generational wealth being lost was another reason I wanted to help. As a Black woman, I wanted to support my Black community.' There's a term for community-centered architecture that strives to make a meaningful impact. 'It's called citizen architect,' said USC architecture student Janae Edwards, who serves as Vice President of USC's chapter of NOMAS (National Organization of Minority Architecture Students). 'What we're learning a lot in architecture and part of our architectural process is to begin with research and background of our site so that we can incorporate those ideas within our design.' As Altadena rebuilds from the Eaton Fire—and as the tight-knit community continues to rally against predatory outside developers—the ARC and groups like the Dena Rekindling Network are helping the community recover with purpose and build back stronger. 'What we're doing is looking at the community itself, and seeing how we can preserve the community and things (that) are historically significant through design,' said Edwards. 'I think architecture is significant in that way, to ensure that the ideas of the community can be re-communicated through design.' SEE ALSO: Nonprofit Purchases Land To Protect Altadena From Predatory Developers Reemergence From The Ashes: How Altadena Is Slowly Reopening For Business SEE ALSO Black Architects, Student Leaders Unite To Rebuild Altadena was originally published on Black America Web Featured Video CLOSE
Otago Daily Times
26-05-2025
- Automotive
- Otago Daily Times
Paddon up to third in standings after dual wins
Hayden Paddon (right) and co-driver John Kennard celebrate after their win in the Forest Rally in Western Australia on Sunday. PHOTO: TAYLER BURKE New Zealand rally stars Hayden Paddon and co-driver John Kennard overcame intense competition and muddy conditions to win the Forest Rally in Western Australia. It was the second round of the Australian Rally Championship, run as two single-day events across the weekend. The Kiwis worked hard to secure the maximum available 50 points each day and claim the win in their Hyundai i20 Rally 2 car. Paddon is now third on the ARC drivers' points table behind Lewis Bates and Scott Pedder after two of the six championship rounds. The Cromwell driver was seeded fourth heading into Saturday's heat one and Paddon and Kennard were among the top runners from the outset as expected. But the competition was hot, 2020 FIA junior world rally champion Tom Kristensson winning the first stage, three-time ARC champ Harry Bates securing the second, and Paddon the third. Heavy rain made conditions very slippery in places, but high grip in others, and nothing like the loose, ball-bearing surface typical of this rally run in the forests near Nannup, south of Perth near Margaret River. Into the afternoon loop, Rally of Canberra winner Scott Pedder took the fourth stage win, then Paddon and Kennard were able to wrap up the day to their satisfaction by winning the last two stages with a margin of 12.3sec over Pedder, and secure maximum points for heat one. Sunday morning's loop of three stages were very wet and muddy, but Paddon said drying conditions in the afternoon suited them and the car better. Four different stage winners — Kristensson, Pedder, Harry Bates and Paddon — throughout the day highlighted the intense competition. Paddon was ultimately the day's victor by a margin of just 5.4sec over Bates. Paddon was delighted to take the rally win and maximum points. 'It was a really good weekend and we're really happy to come away with the win on both days," Paddon said. "It was more than we expected especially as the conditions were very challenging. "We had to really dig deep to try and get the result. "To get the win in that fashion is very satisfying. It's been a huge effort from everyone in the PRG team being over here for the week. It's great to get our bid to win our first Australian championship back on track with our next challenge taking place at Rally Queensland near Gympie next month.' — APL
