Talos Energy announced a proposed $800 million offering of second‑priority senior secured notes due 2034 to help fund its pending Gulf of America acquisition and related actions.
Key Highlights:
- Talos Production commenced a private offering of $800 million of second‑priority senior secured notes due 2034 to eligible purchasers.
- Net proceeds intended to fund part of the cash consideration for the Gulf of America acquisition, redeem outstanding 2029 notes, and pay fees and expenses.
- $175 million of the new notes subject to special mandatory redemption if the acquisition isn’t consummated or certain preferential rights are exercised.
- New Notes expected to be guaranteed by Talos and certain subsidiaries and secured on a second‑priority basis by substantially the same collateral as existing first‑priority obligations.
- Preliminary offering materials include pro forma financials, reserves, and production metrics for the Coulomb and Na Kika interests being acquired.
Original SEC Filing:
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