Perpetual Energy is planning to raise a total of about $153.7 million in a bond sale. The seven-year term bonds will be direct senior unsecured obligations of Perpetual ranking pari passu with all other unsecured and unsubordinated debt of the company. The company may use the proceeds from the offering to repay existing indebtedness under its existing credit facility. The company will also be provided with additional flexibility with respect to the maturity of its 6.50% convertible debentures due June 2012 from the offering. The offer is expected to close on or about March 10, 2011.

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