The $700 million August deal bought SilverBow 42,000 contiguous, operated net acres in Texas, according to information SilverBow presented to investors at the time of the deal.
SilverBow will use the net proceeds to repay a portion of the amounts outstanding under its senior secured revolving credit facility and for general corporate purposes, and will subsequently use borrowings under its credit facility and proceeds from its amended second lien notes to fund the Chesapeake purchase.
Most of the shares are from SilverBow. The remaining 750,000 shares are offered by an affiliate of Strategic Value Partners LLC. Citigroup, Mizuho and Johnson Rice & Co. LLC are acting as joint book-running managers for the stock offering.
2023-09-22 - Oceaneering intends to use the net proceeds from the offering, together with cash on hand if necessary, to fund the purchase of any and all of its 4.650% senior notes due in 2024.
2023-09-21 - Arclight Capital Partners adds former Vistra Corp. CEO Curt Morgan as senior adviser.
2023-09-20 - LNG developer NextDecade Corp. has secured debt financing to support construction of the company’s Rio Grande LNG export project in South Texas.
2023-09-20 - Hess Midstream will repurchase $100 million worth of units from the company’s sponsors, Hess Corp. and Global Infrastructure Partners.
2023-09-20 - Permian Resources will not receive proceeds from the stock offering.