Simpson Thacher advised the underwriters on a 7,475,000 share equity offering by Concho Resources Inc. (“Concho”). Goldman, Sachs & Co., BofA Merrill Lynch, Barclays and J.P. Morgan were the joint book-running managers for the offering.
Concho is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. Proceeds from the equity offering were used to repay all outstanding borrowings under Concho’s credit facility and for general corporate purposes, including funding a three-year accelerated growth plan, capital commitments associated with a recently announced midstream joint venture and future acquisitions.
The Simpson Thacher team for the transaction included Josh Bonnie, Lesley Peng, Kyle Scherer and Jonathan Kelley (Capital Markets); Jonathan Cantor and Chang Choi (Tax); Michael Isby and Tim Mulvihill (Environmental); Linda Barrett (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).