Investors include MSDC ZEC, Senator Sidecar, Jubalee, Todd A. Brooks
By Devika Patel
Knoxville, Tenn., Aug. 11 – ZaZa Energy Corp. completed a $527,000 second tranche of a $100.53 million private placement of senior secured notes on Aug. 5, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $100 million on Feb. 21, 2012.
The 8% notes are due Feb. 21, 2017.
The notes are callable at par plus a make-whole premium until Feb. 21, 2015. After that, they are callable at 105 until Feb. 21, 2016 and callable at par beginning Feb. 21, 2016.
The notes are putable at 101 after Feb. 21, 2015.
Investors also received warrants for 26,315,789 shares in the first tranche, which are each exercisable at $3.15 until Feb. 21, 2017.
Investors included MSDC ZEC Investments, LLC, Senator Sidecar Master Fund LP, Jubalee Ltd. and Todd A. Brooks.
ZaZa is a private energy company that was formed in 2012 through the merger of Toreador Resources Corp. and ZaZa Energy, LLC. The new company will be based in Houston. The notes were issued as part of the company's merger.
| Issuer: | ZaZa Energy Corp.
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| Issue: | Senior secured notes
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| Amount: | $100,527,000
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| Maturity: | Feb. 21, 2017
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| Coupon: | 8%
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| Call: | Make-whole call until Feb. 21, 2015 and then at 105, declining to par on Feb. 21, 2016
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| Put: | At 101 after Feb. 21, 2015
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| Warrants: | For 26,315,789 shares
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| Warrant expiration: | Feb. 21, 2017
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| Warrant strike price: | $3.15
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| Investors: | MSDC ZEC Investments, LLC, Senator Sidecar Master Fund LP, Jubalee Ltd. and Todd A. Brooks
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| Settlement date: | Feb. 21, 2012 (for $100 million), Aug. 5 (for $527,000)
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