Simpson Thacher Represents Initial Purchasers in Add-On Senior Notes Offering by Crescent Energy Finance
02.10.22
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Simpson Thacher represented the initial purchasers, led by BofA Securities, Inc., in connection with the 144A/Regulation S offering of $200 million aggregate principal amount of additional 7.25% Senior Notes due 2026 by Crescent Energy Finance LLC (f/k/a Independence Energy Finance LLC), a subsidiary of Crescent Energy Company. The offering was upsized from $150 million. Crescent Energy intends to use the net proceeds from the offering to repay a portion of the amounts outstanding under its revolving credit facility.
Crescent Energy Company (NYSE: CRGY) is a U.S. independent energy company with a portfolio of assets in basins across the lower 48 states.
The Simpson Thacher team included David Azarkh, Tony Rim and Ryan Poché (Capital Markets); Michael Mann and Scott Grundei (Tax); Genevieve Dorment (Intellectual Property); Alan Fenyes (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Jennie Getsin (Blue Sky).