Ovintiv enters $2.5B in term loans to partly fund Montney acquisition from Paramount Resources

Ovintiv Inc.

$1.5B 364-day asset-sale term loan and $1.0B two-year term loan entered on Dec 10, 2024.
Loans intended to partially finance the previously announced Montney Acquisition from Paramount Resources Ltd.
Interest at Base Rate or Adjusted Term SOFR plus margins tied to Ovintiv's credit ratings.
Existing U.S. and Canadian credit agreements amended to extend maturity to December 10, 2029.
Covenants include debt-to-capitalization ratio not exceeding 60%; guaranteed by Ovintiv Canada ULC.

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