Validus Energy II Midcon LLC has priced its offering of US$500 million aggregate principal amount of 8.0% senior notes due in 2031. It intends to use the proceeds to repay outstanding borrowings under its reserve-based lending facility.
Latham & Watkins LLP advised the initial purchasers on the transaction with a corporate deal team led by Austin partners David Miller and Sam Rettew, with associates Connor Adams, Cooper Shear, and Samantha McGarvey. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Graham Core; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Phil Goldberg.
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