Callon Announces Launch of $650M Senior Unsecured Notes Offering

Source: www.gulfoilandgas.com 6/21/2021, Location: North America

Callon Petroleum Company announced that, subject to market and other conditions, it intends to offer $650 million aggregate principal amount of senior unsecured notes due 2028 (the "notes") in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the "Securities Act").

The net proceeds from the offering are expected to be used to redeem all $542.7 million of the Company's existing 6.25% Senior Notes due 2023. Remaining proceeds will be used to partially repay (without cancelling) amounts outstanding under the Company's senior secured revolving credit facility.

The notes and the related guarantees to be offered have not been registered under the Securities Act or any state securities laws and unless so registered, the notes and the related guarantees 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. The notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act.


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