Simpson Thacher represented the initial purchasers, led by RBC Capital Markets, LLC, in connection with the 144A/Regulation S offering of $150 million aggregate principal amount of additional 9.25% Senior Notes due 2028 by Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company. The offering was upsized from $125 million. Crescent Energy intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition of certain interests in oil and gas properties, rights and related assets located primarily in Dimmit and Webb Counties, Texas with the remaining proceeds to be used 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 includes David Azarkh, Brian Rosenzweig, Richie Ragusa, Maggie Selbe, and Luke Riel (Capital Markets); Michael Mann and Scott Grundei (Tax); Mark Natividad (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); Michael Isby and Deepa Sarkar (Environmental); and Jennie Getsin (Blue Sky).