Parex Completes $500 Million Senior Notes Offering

Paul, Weiss advised Parex Resources Inc., one of the largest independent oil and gas companies in Colombia, in its 144A private offering of $500 million aggregate principal amount of 8.500% senior notes due 2031. The net proceeds from the offering will be used to fund the cash portion of the consideration for Parex’s acquisition of Frontera Energy Corporation’s exploration and production business. Deutsche Bank Securities, Itau BBA, Santander and Scotiabank acted as global coordinators and joint bookrunners for the offering.

The Paul, Weiss team was led by corporate partner Christopher Cummings, and included partners Robert Zochowski, Stan Richards and Adam Givertz and counsel Stephen Centa; tax partner Matthew Jordan and counsel Samir Kurani; environmental counsel William O’Brien; and executive compensation counsel Jake Glazeski.