Samson Investment to launch $750 million term loan on Friday

By Sara Rosenberg

New York, Dec. 5 - Samson Investment Co. will hold a call at 11 a.m. ET on Friday to launch a $750 million senior secured covenant-light term loan due Sept. 25, 2018, according to a market source.

Credit Suisse Securities (USA) LLC and Bank of America Merrill Lynch are the lead banks on the deal.

Price talk on the loan is Libor plus 425 basis points with a 1% Libor floor and a par offer price, the source said.

The loan has 101 soft call protection for six months.

Proceeds will be used to reprice an existing term loan that is being reduced from a size of $1 billion and currently carries pricing of Libor plus 475 bps with a 1.25% Libor floor, the source added.

Funds for the term loan pay down will come from borrowings under the company's ABL facility.

Commitments are due on Dec. 12.

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

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