Samson Investment to launch $2.25 billion bridge loan on Wednesday

By Sara Rosenberg

New York, Dec. 6 - Samson Investment Co. is scheduled to hold a conference call at 4 p.m. ET on Wednesday to launch a $2.25 billion bridge loan to investors, according to sources.

The bridge loan is backing a $2.25 billion high-yield bond offering that will be used, along with a $2.25 billion senior secured revolving credit facility, to fund the buyout of the company by Kohlberg Kravis Roberts & Co. LP, Natural Gas Partners, Crestview Partners and Itochu Corp.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Bank of America Merrill Lynch, Barclays Capital Inc., BMO Capital Markets, Citigroup Global Capital Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, Mizuho Securities USA Inc. and Jefferies & Co. are the bookrunners on the bridge loan, with JPMorgan and Wells Fargo the lead arrangers.

Under the terms of the agreement, the investor group will acquire all of Samson's assets for $7.2 billion with the exception of its onshore Gulf Coast and offshore deep water Gulf of Mexico assets, which will continue to be owned by the Schusterman family.

Closing is expected by year-end, subject to regulatory approval and customary conditions.

Samson is a Tulsa, Okla.-based private exploration and production 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.