(Source: Shutterstock.com)
Canada’s Baytex Energy Corp. moved a step closer toward finalizing its purchase of Ranger Oil Corp.'s Eagle Ford assets with the closing of its private offering of $800 million aggregate principal amount of senior unsecured notes.
The gross proceeds went into escrow pending satisfaction of release conditions. Proceeds will help fund the cash portion of the $2.5 billion Ranger Oil acquisition, which is expected to close in second-quarter 2023.
The notes bear interest at a rate of 8.5% per annum and mature on April 30, 2030. The notes were priced at 98.709% of par to yield 8.75% per annum.
Recommended Reading
LNG Sector Under Fire as Activists’ Lawsuits Surge
2024-10-10 - ESG litigation is increasingly affecting the LNG industry while, more broadly, nearly 70% of climate-related cases are filed in the U.S.
Moelis’ Cantor: Trump to Make American Energy Investable Again
2024-11-06 - Former GOP Majority Leader Eric Cantor, vice chairman and managing partner at Moelis, said EV subsidies are likely to be in the president’s crosshairs in his second term.
Bracewell: How Trump and Harris Differ (or Don’t) on Energy Policy
2024-10-16 - Presidential impact on energy prices is largely about perception, although LNG permitting, production incentives and the Inflation Reduction Act will be influenced depending on who is in the White House.
Belcher: Election Outcomes and Their Impacts on Future US Policy
2024-10-14 - Trump would back ‘energy dominance,’ while Harris would pursue a climate change agenda.
Significant ROI for Energy Lobbyists Willing to Invest in Capitol Expenditures
2024-11-01 - Influencing policy in Washington requires substantial investment in campaign donations and lobbying. But the ROI is substantial, as well.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.