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Talos to use proceeds to redeem two series of secured notes due 2026
By Mary-Katherine Stinson
Lexington, Ky., Jan. 25 – Talos Production Inc., a wholly owned subsidiary of Talos Energy Inc., will redeem two series of senior secured notes due 2026, according to a press release.
The two series marked for full redemption are the outstanding 12% second-priority senior secured notes due 2026 issued by Talos Production and the outstanding 11¾% senior secured second-lien notes due 2026 issued by wholly owned subsidiaries Talos Energy Ventures GOM LLC (formerly known as Energy Ventures GoM LLC) and Talos Finance Corp. (formerly known as EnVen Finance Corp.).
The 11¾% notes will be redeemed on or after April 15 at 102.938. Accrued interest will also be paid.
The redemption is being funded by proceeds from the company’s upsized sale of $1.25 billion of new second-priority senior secured notes.
Talos is a Houston-based independent energy company.
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