Sanchez Energy plans $350M senior noted offering

Sanchez Energy

Sanchez Energy Corp. (NYSE: SN), a Houston,TX-based company currently focused on the Eagle Ford Shale, has commenced a private offering to eligible purchasers of $350 million in aggregate principal amount of senior notes due 2021. Sanchez Energy intends to use the net proceeds from this offering to repay all of the approximately $96 million in borrowings outstanding under its first lien revolving credit facility, to retire its second lien term loan facility after repaying in full the $50 million in borrowings outstanding and for general corporate purposes. 

The senior notes will be senior unsecured obligations of Sanchez Energy and will be guaranteed on a senior unsecured basis by, with certain exceptions, substantially all of its existing and future subsidiaries.

Sanchez Energy Corp. has approximately 95,000 net acres targeting the liquids-rich Eagle Ford Shale, Pearsall Shale, Austin Chalk, and Buda Limestone.

 

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