INVESTOR PRESENTATION - CREATING ENERGY CREATING VALUE
MAINTAINING FINANCIAL STRENGTH
Commitment to a Strong Balance Sheet
$1.5 billion
total debt (1)
target
Represents 1x total debt to EBITDA (1)
at US$50 WTI
Credit facilities total US$1.1 billion
Strong liquidity with ~30% unutilized credit
capacity
Total Debt (1) (September 30, 2023)
Credit facilities (2)
Long-term notes
8.75% notes due April 1, 2027
8.50% notes due April 1, 2030
Total long-term notes
Total debt
Long-term Notes Maturity Schedule (3) ($ millions)
US$800
Repaid US$150 million term loan from
the Ranger acquisition
US$410
2023
2024 2025
2026
2027 2028 2029
2030
(1)
(2)
(3)
€23
Total debt and EBITDA are calculated in accordance with the amended credit facilities agreement which is available on the SED AR+ website at www.sedarplus.com.
Revolving credit facilities total US$1.1 billion and mature April 2026. The revolving credit facilities are not borrowing base facilities and do not require annual or semi-annual reviews.
S&P corporate rating "B+" and senior unsecured debt rating "BB-"; Fitch corporate rating "B+" and senior unsecured debt rating "BB-"; Moody's corporate rating "Ba3" and senior unsecured debt rating "B1".
$ millions
$1,047
$555
$1,083
$1,638
$2,684
BAYTEX ENERGY NYSE TSX BTE
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