Blue Racer Midstream LLC and its wholly owned subsidiary Blue Racer Finance Corp. announced the pricing of its previously announced offering of senior notes due 2022. The offering size was increased to $550 million in aggregate principal amount from $400 million. The senior notes mature on Nov. 15, 2022; will pay interest at the rate of 6.125% per year; and were priced at 98.451% of par to yield 6.375%.
The offering is expected to close on Nov. 13, 2014, subject to customary closing conditions. Blue Racer intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facility, to fund its expansion projects and for general corporate purposes.
Recommended Reading
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
Brett: Oil M&A Outlook is Strong, Even With Bifurcation in Valuations
2024-04-18 - Valuations across major basins are experiencing a very divergent bifurcation as value rushes back toward high-quality undeveloped properties.
Marketed: BKV Chelsea 214 Well Package in Marcellus Shale
2024-04-18 - BKV Chelsea has retained EnergyNet for the sale of a 214 non-operated well package in Bradford, Lycoming, Sullivan, Susquehanna, Tioga and Wyoming counties, Pennsylvania.
Civitas, Prioritizing Permian, Jettisons Non-core Colorado Assets
2024-02-27 - After plowing nearly $7 billion into Permian Basin M&A last year, Civitas Resources is selling off non-core acreage from its legacy position in Colorado as part of a $300 million divestiture goal.