Jonah Energy Announces Closing of Comprehensive Balance Sheet Recapitalization and Equity Raise of $85 Million
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Denver, Colorado – October 3, 2017 – Jonah Energy LLC (“Jonah Energy”) announced today that Jonah Energy and Jonah Energy Finance Corp, a subsidiary of Jonah Energy, closed an upsized offering of $600 million of 7.25% senior unsecured notes due 2025 (“Notes”). The offering was upsized from the previously announced $500 million in response to investor interest. The Notes are senior unsecured obligations of Jonah Energy and will be guaranteed by Jonah Energy’s subsidiaries.
The Notes were issued pursuant to Rule 144A of Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), without registration rights. The Notes and the related guarantees have not been registered under the Securities Act or the securities laws of any other state or jurisdiction and may not be offered or sold without registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws.
A portion of the net proceeds from the offering of the Notes was used to retire the existing second lien term loan and the remainder of the net proceeds will be used to pay down borrowings under Jonah Energy’s revolving credit facility.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation of an offer to buy or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Download the Jonah Energy LLC Announces Closing $600 Million of Senior Notes Due 2025 press release.
Jonah Energy LLC was created in the spring of 2014 with the acquisition of producing assets within the Jonah Field in Sublette County, Wyoming. Jonah Energy is one of the largest privately-held natural gas producers in the US and pursues a strategy of growth through the acquisition, development and enhancement of high-quality producing assets. The company’s investor group is led by TPG Capital LLC and includes EIG Global Energy Partners and management.
For more information, please contact Patrick Welch at firstname.lastname@example.org or 720-577-1000.