Simpson Thacher Represents the Initial Purchasers in $125 Million Additional Notes Offering by Resolute Energy
05.12.17
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The Firm represented the initial purchasers, led by BMO Capital Markets Corp., in connection with an unregistered offering under Rule 144A/Regulation S by Resolute Energy Corporation of $125 million aggregate principal amount of additional 8.5% Senior Notes due 2020. The notes were issued under the same indenture as the $400 million aggregate principal amount of Resolute’s 8.5% Senior Notes due 2020 issued on April 25, 2012 and December 10, 2012 and constitute part of the same series as such existing notes. The offering closed on May 12, 2017.
Resolute is an independent oil and gas company with assets located primarily in the Delaware Basin in West Texas and the Paradox Basin in southeast Utah. Resolute intends to use the net proceeds from the offering and borrowings under its senior credit facility to fund the acquisition of certain assets from PetroCap CPX, LLC and CPX Exploration II, LLC.
The Simpson Thacher team included David Azarkh, Sung Bum Cho, Tony Rim, Sara Park and Michael Yan (Capital Markets); Jonathan Cantor and Jasmine Hay (Tax); Michael Isby (Environmental); Erin Murphy (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA).