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Athabasca Oil Corporation Closes Notes Offering
- Client News
- February 24, 2017
Athabasca Oil Corporation closed a private placement of $450 million aggregate principal amount of 9.875% senior secured second lien notes due 2022. Athabasca applied the net proceeds from the offering to fund its cash tender offer for any and all of its Cdn$550 million aggregate principal amount of 7.50% second lien notes due 2017. Athabasca is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Paul, Weiss represented the placement agents for the issuance of the 2022 notes, led by RBC Capital Markets, Goldman Sachs and Credit Suisse, and represented RBC Capital Markets as dealer manager for the tender offer.
The Paul, Weiss team included corporate partner Christopher Cummings; environmental counsel William O’Brien; tax partner David Mayo; and employee benefits partner Lawrence Witdorchic.