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CrownRock tenders for $405 million 7 1/8%, $350 million 7¾% notes
By Susanna Moon
Chicago, Oct. 2 – CrownRock LP began two concurrent cash tender offers for its $405 million of 7 1/8% senior notes due 2021 and $350 million of 7¾% senior notes due 2023.
CrownRock Finance, Inc., a wholly owned subsidiary of the company, is a co-issuer of each series.
The purchase price for each $1,000 principal amount will be $1,039.38 for the 7 1/8% notes and $1,078.03 for the 7¾% notes, according to a company announcement.
The tender offers will end at 5 p.m. ET on Oct. 10.
Holders will also receive accrued interest up to but excluding the settlement date of Oct. 11.
Settlement of notes tendered under a notice of guaranteed delivery is expected to occur on Oct. 13.
Credit Suisse Securities (USA) LLC (212 538-2147 or 800 820-1653) is the dealer manager. D.F. King & Co., Inc. (877 478-5042, 212 269-5550 or dfking.com/crlp) is the tender agent and information agent.
CrownRock is a Midland, Texas-based oil and gas-producing joint venture of CrownQuest Operating and Lime Rock Partners that focuses on operations in the Permian Basin region of western Texas.
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