Simpson Thacher Represents Wells Fargo and Other Underwriters in Denbury Resources Inc.’s $1.25 Billion Senior Subordinated Notes Offering, Related Tender Offer and Consent Solicitation
05.06.14
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The Firm represented the underwriters, led by Wells Fargo Securities, LLC, in connection with the registered public offering by Denbury Resources Inc. (“Denbury”) of $1.25 billion aggregate principal amount of its 5½% Senior Subordinated Notes due 2022. The net proceeds were used to fund a cash tender offer for and a redemption of all of Denbury’s outstanding 8¼% Senior Subordinated Notes due 2020. Denbury intends to use the remaining net proceeds to reduce borrowings under its senior secured bank credit facility, and for general corporate purposes.
Denbury is a growing, dividend-paying, domestic oil and natural gas company. The Company’s primary focus is on enhanced oil recovery utilizing carbon dioxide, and its operations are focused in two key operating areas: the Gulf Coast and Rocky Mountain regions.
The Simpson Thacher team for the offering included Art Robinson, Justin Cooke, Karen Wang and Shelly Lin (Securities); Jonathan Cantor and Jodi Sackel (Tax); Mardi Merjian (Real Estate); Timothy Mulvihill (Environmental); Jeanne Annarumma and Holly Gurian (Executive Compensation and Employee Benefits); Jennie Getsin (Blue Sky and FINRA).