Alta Mesa sets investor calls for $450 million eight-year notes offer, to refinance 9 5/8% notes

By Paul A. Harris

Portland, Ore., Nov. 30 – Alta Mesa Finance Services Corp., a wholly owned subsidiary of Alta Mesa Holdings, LP, plans to market a $450 million offering of eight-year senior notes (Caa1/B-) on investor calls set to take place on Thursday and Friday, according to a syndicate source.

A global investor call is scheduled to begin at 11:30 a.m. ET on Thursday. There will also be one-on-one investor calls on Thursday and Friday.

The Rule 144A and Regulation S with registration rights notes offering is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner. Capital One, Natixis Securities, ING, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and TD Securities are the joint bookrunners. BOK Securities is the co-manager.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds, together with cash on hand, with be used to fund the purchase of the 9 5/8% notes due 2018 via tender and/or redemption.

The prospective issuer is a Houston-based oil and natural gas acquisition, exploitation, exploration and production company.

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