EnVen Energy Corporation’s $325 Million High-Yield Notes Offering


Davis Polk advised EnVen Energy Corporation in connection with a Rule 144A/Regulation S offering of $325 million aggregate principal amount of its 11.000% senior secured second-lien notes due 2023 through its wholly owned subsidiaries Energy Ventures GoM LLC and EnVen Finance Corporation.

The notes are guaranteed on a senior secured second-priority basis by EnVen and EnVen’s domestic subsidiaries that guarantee EnVen’s first-lien revolving credit facility.

In connection to the notes offering, Davis Polk also advised EnVen in connection with amending its first-lien revolving credit facility.

EnVen is an independent oil and natural gas company engaged in the development, exploitation and acquisition of primarily crude oil in the deepwater region of the U.S. Gulf of Mexico, headquartered in Houston, Texas.

The Davis Polk capital markets team included partners Richard D. Truesdell Jr. (Picture) and Byron B. Rooney and associates Ravi P. Ramchandani and Angela Park. The credit team included partner Joseph P. Hadley and associates Mayer J. Steinman, Samantha Hait and Sijia Xiang. Partner Michael Mollerus and associates Isaac MacDonald provided tax advice.

Involved fees earner: Richard Truesdell Jr. – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Ravi Ramchandani – Davis Polk & Wardwell; Angela Park – Davis Polk & Wardwell; Joseph P. Hadley – Davis Polk & Wardwell; Mayer Steinman – Davis Polk & Wardwell; Samantha Hait – Davis Polk & Wardwell; Sijia Xiang – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Isaac MacDonald – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: EnVen Energy Corporation;

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Author: Ambrogio Visconti