Moss Creek starts roadshow for $500 million eight-year senior notes

By Paul A. Harris

Portland, Ore., April 22 – Moss Creek Resources Holdings, Inc. started a roadshow on Monday for a $500 million offering of eight-year senior notes (existing ratings B3/B+), according to market sources.

The deal is being whispered at 10%, a trader said.

The roadshow wraps up on Friday, and the Rule 144 and Regulation S for life offering is set to price thereafter.

BofA Merrill Lynch, BMO Securities, Capital One Securities Inc., Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with three years of call protection.

Moss Creek Resources Holdings is a wholly owned subsidiary of Surge Energy US Holdings Co., which is the issuing entity for the notes.

The Houston-based independent oil and gas exploitation, production and acquisition company plans to use the proceeds to repay debt under its revolving credit facility and for general corporate purposes.

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