Talos Energy priced an $800 million offering of 8.000% second‑priority senior secured notes due 2034 to fund a Gulf of America acquisition and redeem its 2029 notes.
Key Highlights:
- Talos Production priced $800 million of 8.000% second‑priority senior secured notes due 2034, expected to close around July 13, 2026.
- Net proceeds intended to fund part of the Gulf of America acquisition, redeem all outstanding 9.000% second‑priority secured notes due 2029, and pay fees and expenses.
- Talos Production issued a conditional notice to redeem the 2029 notes at 104.5% of principal plus accrued interest, conditioned on the Offering closing.
- $175 million of the new notes will be subject to special mandatory redemption at 100% principal if the acquisition isn't consummated by Dec 31, 2026 or other specified conditions occur.
- New notes to be offered to qualified institutional buyers under Rule 144A and Regulation S, unsecured initially on a second‑priority basis with expected guarantees by Talos and certain subsidiaries.
Original SEC Filing:
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