Colgate Announces Pricing of $500M Private Placement of Senior Notes Due 2029

Source: www.gulfoilandgas.com 6/16/2021, Location: North America

Colgate Energy Partners III, LLC (“Colgate”) announced the pricing of its private placement to eligible purchasers of new 5.875% senior unsecured notes due 2029 in the aggregate principal amount of $500 million, which was increased from the originally proposed $400 million offering (the “Notes”). The notes were sold at par. The offering is expected to close on June 30, 2021, subject to customary closing conditions. Colgate intends to use the net proceeds from this offering to fund a portion of the recently announced acquisition of certain assets of Occidental in Reeves and Ward Counties (the “Occidental Acquisition”), and to pay related fees and other expenses.

The securities to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Colgate plans to offer and sell the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.

This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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