Simpson Thacher Represents Initial Purchasers in Offering of $1.2 Billion of Senior Notes of MEG Energy
02.03.20
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The Firm represented the initial purchasers in connection with a Rule 144A/Regulation S offering by MEG Energy Corp. (“MEG”) of US$1.2 billion of 7.125% Senior Notes due 2027. The net proceeds from the offering will be used to finance the redemption of all of its outstanding 6.375% Senior Notes due 2023 and US$400 million aggregate principal amount of its outstanding 7% Senior Notes due 2024.
MEG is an oil company focused on sustainable in situ thermal oil development and production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize steam‐assisted gravity drainage extraction methods to improve the economic recovery of oil as well as lower carbon emissions.
The Simpson Thacher team included Ken Wallach, Hui Lin, Ben Massey, Deul Lim and Xochitl Romo (Capital Markets); Jon Cantor (Tax); Mike Isby (Environmental); Andrew Blau and Jennifer Neilsson (Executive Compensation and Employee Benefits); Dennis Loiacono (Real Estate); and Andrew Pagliughi (FINRA and Blue Sky).