Extra Space to sell $300 million; Oxford BioMedica seals $55 million

By Devika Patel

Knoxville, Tenn., June 30 – The week ended with a placement pricing and two large private placements closing: Salt Lake City-based owner, operator, acquirer, developer and redeveloper of self-storage facilities Extra Space Storage LP arranged to sell $300 million of 3.95% 10-year senior notes, Oxford, England, biopharmaceutical company Oxford BioMedica plc settled a $55 million three-year floating-rate debt facility with Oaktree Capital Management - Strategic Credit Strategy and Calgary, Alta.-based oil and gas company BlackPearl Resources Inc. settled C$75 million of three-year 8% senior secured second lien notes.

Extra Space

Extra Space will sell $300 million of 3.95% senior notes due Aug. 24, 2027 in a private placement that priced on June 29.

The notes have a make-whole call provision.

Proceeds will be used to refinance debt and for general corporate purposes.

Oxford BioMedica

Oxford BioMedica completed a $55 million debt facility with Oaktree Capital Management - Strategic Credit Strategy.

The loan, due June 29, 2020, bears interest at a floating rate equal to Libor plus 900 bps, with a floor of 1%.

Oaktree also received warrants for 134,351,226 shares, each exercisable at 1p for 10 years.

Proceeds will be used to redeem the existing debt facility with Oberland Capital Healthcare.

BlackPearl Resources

BlackPearl Resources sold C$75 million of 8% senior secured second lien notes due June 30, 2020 to Prudential Capital Group at par.

Proceeds will be used to repay borrowings under the company’s credit facilities, for construction of the expansion of its Onion Lake thermal project and general corporate purposes.

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