Talos to redeem outstanding 11% notes due 2022 via new notes

By Taylor Fox

New York, Dec. 14 – Talos Energy Inc.’s wholly owned subsidiary, Talos Production Inc., plans to fund the redemption of its outstanding 11% second-priority senior secured notes due 2022, according to a news release.

The redemption will be funded with proceeds from its $400 million second-priority senior note offering.

The proceeds from the new notes will also fund any premiums, fees and expenses related to the redemption.

Any remaining proceeds will be used for general corporate purposes, which may include the repayment of a portion of the outstanding borrowings under the company’s reserves-based lending facility.

Talos is a Houston-based oil and gas company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.