EnVen Energy’s $300 Million High-Yield Notes Offering

Davis Polk advised EnVen Energy Corporation, while Simpson Thacher advised the initial purchasers on the deal.

EnVen Energy Corporation (“EnVen”) executed the offering of $300 million aggregate principal amount of its 11.750% senior secured second lien notes due 2026 through its 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, EnVen completed an amending for its first lien revolving credit facility.

EnVen is a leading independent deepwater exploration and production operator in the 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 Chris Van Buren and Nicolas E. Biggio. The finance team included partner Joseph P. Hadley and associate Esam Ibrahim. Partner Po Sit and associate Liang Zhang provided tax advice. Counsel David A. Zilberberg provided environmental advice. Associate Sijia Cai provided Investment Company Act of 1940 advice.

Simpson Thacher advised the initial purchasers, led by J.P. Morgan Securities LLC, with David Azarkh, Ashley Yoon and Jason Kitchen (Capital Markets); Robert Rabalais, Dylan Benac, Oscar Hwang, Analilia Gomez and Megan Bourassa (Credit); Michael Isby (Environmental); Nancy Mehlman and Stefan Golubovich (Tax); Larry Moss and Joo Hyun Lee (Executive Compensation and Employee Benefits); Genevieve Dorment and Kate Mirino (Intellectual Property); Abram Ellis, Mark Skerry and Avia Gridi (Regulatory); Jon Pall (Collateral); and Jennie Getsin (Blue Sky).

Involved fees earner: Nicolas Biggio – Davis Polk & Wardwell; Joseph P. Hadley – Davis Polk & Wardwell; Esam Ibrahim – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Sijia Cai – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell; Chris Van Buren – Davis Polk & Wardwell; Liang Zhang – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell; David Azarkh – Simpson Thacher & Bartlett; Dylan Benac – Simpson Thacher & Bartlett; Megan Bourassa – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Stefan Golubovic – Simpson Thacher & Bartlett; Analilia Gomez – Simpson Thacher & Bartlett; Avia Gridi – Simpson Thacher & Bartlett; Oscar Hwang – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Jason Kitchen – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Robert Rabalais – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett; Ashley Sunha Yoon – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: EnVen Energy Corporation; J.P. Morgan Securities LLC;

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Author: Martina Bellini