Simpson Thacher Represents Initial Purchasers in Offering of US$350 Million of Senior Notes by Teine Energy Ltd.
09.23.14
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The Firm recently represented the initial purchasers, led by Barclays Capital Inc., in connection with a Rule 144A/Regulation S offering by Teine Energy Ltd. (“Teine”) of US$350 million aggregate principal amount of 6.875% Senior Notes due 2022. Teine intends to use the net proceeds from the offering to repay all outstanding indebtedness under, and retire, its second lien term loan, repay outstanding borrowings under its revolving facility and to the extent proceeds remain, for general corporate purposes.
Teine is a Calgary-based exploration, development and production company focused on acquiring and developing conventional oil and natural gas properties in the Western Canadian Sedimentary Basin.
The Simpson Thacher team included Ken Wallach, Matthew Levy and Yui Hirohashi (Capital Markets); Jodi Sackel (Tax); Paul Koppel and Alina Finkelshteyn (Executive Compensation and Employee Benefits); Michael Isby (Environment); and Jennie Getsin (Blue Sky).