Talos Energy to redeem notes due 2026, repay revolver via new notes

By Mary-Katherine Stinson

Lexington, Ky., Jan. 23 – Talos Energy Inc. will use the proceeds from a two-tranche sale of second-priority senior secured notes to fund a portion of the cash consideration for the company’s pending acquisition of QuarterNorth Energy, Inc., to fund the redemption of its outstanding 12% second-priority senior secured notes due 2026 and pay any premiums, fees and expenses related to the redemption and the new notes issuance, according to a press release.

Any remaining proceeds will be used for general corporate purposes, which may include the partial repayment of the company’s senior reserves-based revolving credit facility.

Talos is a Houston-based independent energy company. QuarterNorth is a U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields.

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