The Firm represented Barclays as initial purchaser in connection with a 144A/Regulation S offering by MEG Energy Corp. (“MEG”) of $200 million additional aggregate principal amount of 7.0% senior notes due 2024. The notes were issued as additional notes under an indenture pursuant to which MEG issued $800 million of 7.0% senior notes due 2024 on October 1, 2013. MEG intends to use the net proceeds from the offering for general corporate purposes, including funding its 2014 capital program.
MEG is focused on sustainable in situ oil sands development and production in the southern Athabasca region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods.
The Simpson Thacher team included Kenneth Wallach, Ryan Bekkerus, Lia Toback and Kai Fan (Capital Markets & Securities); Jon Cantor and Drew Purcell (Tax); Mike Isby (Environment), Jamin Koslowe (Executive Compensation and Employee Benefits), Mardi Merjian (Real Estate), Steven DeLott (insurance) and Jennie Getsin (FINRA and Blue Sky).