Finance & Investing | Fundraising | Capital Markets
Carrizo Reports Results of Senior Note Offering
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Carrizo Oil & Gas, Inc. announced that its previously announced tender offer to purchase for cash any and all of its outstanding 8.625% Senior Notes due 2018 (CUSIP/ISIN: 144577 AC7 / US144577AC70) and any related guarantees expired at 5:00 p.m. New York City time today. As reported by the depositary, at the expiration time, holders had validly tendered and not validly withdrawn in the tender offer $264,082,000 aggregate principal amount of the notes, representing approximately 44% of the outstanding aggregate principal amount of the notes, which excludes $1,147,000 aggregate principal amount of notes that remain subject to the guaranteed delivery procedures.
Upon the terms and subject to the conditions specified in the Offer to Purchase dated April 14, 2015, Carrizo expects to accept for purchase, and pay for, all notes validly tendered and, in each case, not validly withdrawn in the tender offer and expects to make payment for the notes, including notes delivered in accordance with the guaranteed delivery procedures, on April 28, 2015.
Carrizo executed this tender offer along with the previously announced issuance of new senior notes, which is expected to close on April 28, 2015. The purpose of the tender offer is to retire Carrizo's outstanding 8.625% Senior Notes due 2018.
Carrizo retained RBC Capital Markets, LLC to serve as the Dealer Manager for the tender offer. RBC Capital Markets, LLC may be contacted at (877) 381-2099 (toll free) for banks and brokers or (212) 618-7822 (collect).
Carrizo also retained Wells Fargo Bank, N.A., to serve as the Depositary and D.F. King & Co., Inc. to serve as the Information Agent for the tender offer.