Firm Represents Initial Purchasers in $600 Million High Yield Debt Offering by Forest Oil Corporation
02.26.09
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The Firm represented the initial purchasers, led by J.P. Morgan, Banc of America Securities LLC, Credit Suisse, Deutsche Bank Securities and Wachovia Securities, in connection with an offering by Forest Oil Corporation of $600 million of 8.5% Senior Notes due 2014. The notes were priced at 95.15% to yield 9.75%, and were entitled to registration rights. Forest Oil intends to use the net proceeds from the offering to reduce borrowings under its bank credit facilities.
The Simpson Thacher team for the transaction included Walt Looney, Justin Cooke and Gustavo Pinto (Corporate), Jonathan Talansky (Tax), Adeeb Fadil (Environmental) and Mark Lab (Blue Sky).