Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Sanchez Energy Prices Upsized $850 Mln Private Senior Notes Offering

RELATED NEWS
Trade SN now with 

Sanchez Energy Corp. (SN: Quote) said Friday that it has priced at par its private offering to eligible purchasers of $850 million in aggregate principal amount of 6.125% senior notes due 2023.

The offering was upsized from the previously announced $700 million aggregate principal amount and is expected to close on June 27.

If closing of the offering occurs prior to closing of its pending Catarina acquisition, Sanchez Energy will deposit the net proceeds of the offering into escrow pending closing of the Catarina acquisition. Upon release from escrow, Sanchez Energy plans to use the net proceeds from the offering to fund its pending Catarina acquisition, together with the net proceeds from its concurrent common stock offering, and for general corporate purposes, including working capital and to repay borrowings under its credit facility.

If the closing of the pending Catarina acquisition does not occur on or prior to August 31, or if the purchase and sale agreement for the pending Catarina acquisition is terminated at any time before then, Sanchez Energy will use all of the net proceeds of the offering for redemption of the senior notes at a redemption price equal to 100% of the aggregate principal of the senior notes being redeemed, plus accrued and unpaid interest to the redemption date.

Register
To receive FREE breaking news email alerts for Sanchez Energy Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.