Teine Energy’s $400 Million Senior Unsecured Notes Offering

Simpson Thacher represented Teine Energy Ltd. in the offering.

Teine Energy Ltd. (“Teine”) executed its offering of US$400 million aggregate principal amount of 6.875% senior unsecured notes due 2029. The offering was conducted in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended.

Teine used the net proceeds of the offering to redeem in full the US$350 million aggregate principal amount of its 6.875% senior unsecured notes due 2022, to repay a portion of the outstanding borrowings under its credit facilities and to pay fees and expenses in connection with the offering.

Teine is a Calgary-based exploration, development and production company focused on acquiring and developing oil and natural gas properties in the Western Canadian Sedimentary Basin. Approximately 90% of Teine’s production is weighted towards oil and natural gas liquids.

The Simpson Thacher team for the transaction included Brian E. Rosenzweig (Picture), Matt Hart, Richard Ragusa, Braxton Pitts and Misha Checkovich (Capital Markets); Sophie Staples and Scott Grundei (Tax); Michael Isby (Environmental); Jennifer Neilsson (Executive Compensation & Employee Benefits); and Genevieve Dorment and Corina McIntyre (Intellectual Property).

Involved fees earner: Misha Checkovich – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Matthew Hart – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Braxton Pitts – Simpson Thacher & Bartlett; Richard Ragusa – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Teine Energy;

Author: Martina Bellini