Simpson Thacher Represents Dealer Managers and Solicitation Agents in Tender Offers and Consent Solicitations by Callon Petroleum
04.01.24
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Simpson Thacher recently represented MUFG Securities Americas Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC, Capital One Securities, Inc., PNC Capital Markets LLC and Regions Securities LLC as dealer managers for the cash tender offers and consent solicitations by Callon Petroleum Company (“Callon”) for any and all of its outstanding 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the “2030 Notes” and, together with the 2028 Notes, the “Notes”). Approximately 98% of the Notes were validly tendered and Callon successfully solicited consents of the holders of the Notes to proposed amendments eliminating substantially all restrictive covenants relating to the Notes. The tender offers and consent solicitations were made in connection with APA Corporation’s (“APA”) announced acquisition of Callon, which was completed on April 1, 2024.
APA owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname.
Callon is an independent oil and natural gas company focused on the acquisition, exploration and sustainable development of high-quality assets in the Permian Basin in West Texas.
The Simpson Thacher team included Brian Rosenzweig, Margaret Selbe and Mary Richardson (Capital Markets) and Jon Cantor and Matthew Lester (Tax).