Samson starts roadshow for $2.25 billion two-part notes offering

By Paul A. Harris

Portland, Ore., Jan. 30 - Samson Investment Co. began a roadshow on Monday for a $2.25 billion two-part offering of senior notes (expected ratings B1/B), according to an informed source.

The Rule 144A and Regulation S with registration rights deal is expected to price on Friday.

The offering features eight-year notes, which come with four years of call protection, and 10-year notes, which come with five years of call protection.

Tranche sizes remain to be determined.

J.P. Morgan Securities LLC, which will bill and deliver, is a joint bookrunner. Bank of America Merrill Lynch, Wells Fargo Securities LLC, BMO Securities, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc., RBC Capital Markets and Jefferies & Co. are the joint bookrunners.

KKR Capital Markets LLC, BBVA, Capital One Southcoast, Mitsubishi UFJ Securities International plc, TD Securities, UBS Investment Bank, SMBC and Comerica Investment are the co-managers.

Proceeds will be used to repay the outstanding bridge loan related to the acquisition of the company by Kohlberg Kravis Roberts & Co. LP, Natural Gas Partners, Crestview Partners and Itochu Corp.

The issuer is a Tulsa, Okla.-based private exploration and production company.

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