Talos Energy may partially repay revolver via new note proceeds

By Mary-Katherine Stinson

Lexington, Ky., Jan. 23 – Talos Energy Inc. may partially repay its senior reserves-based revolving credit facility using proceeds from a two-tranche sale of second-priority senior secured notes, according to a press release.

Talos will first use the note proceeds to fund a portion of the cash consideration for its pending acquisition of QuarterNorth Energy, Inc., to fund the redemption of its outstanding 12% second-priority senior secured notes due 2026 and pay any premiums, fees and expenses related to the redemption and the new notes issuance.

Any remaining proceeds will be used for general corporate purposes, which may include the partial paydown of the revolver.

Talos is a Houston-based independent energy company. QuarterNorth is a U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields.

© 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.