Vinson & Elkins advised Baytex Energy Corp. in connection with the pricing and upsize to US$800 million of its previously announced private offering (the “offering”) of senior unsecured notes due 2030 (the “Notes”).
The Notes will bear interest at a rate of 8.5% per annum and mature on April 30, 2030. The Notes were priced at 98.709% of par to yield 8.75% per annum. The closing of the offering is subject to customary closing conditions and is expected to close on April 27, 2023.
The Vinson & Elkins team was led by partners Mike Telle and David Wicklund, counsel Joanna Enns and associate Layton Suchma, with assistance from associates Chandler Jones, Natalie Harrison, Cole Leveque, Mimi Nguyen and Josh Rutenberg. Also advising were partners Wendy Salinas and Jason McIntosh, counsel Allyson Seger and associates Tyler Underwood and Steve Campbell; partner Becky Baker and associate Ryan Penner; partner Matt Dobbins and associate Alyssa Sieja; and partner Joo Hyun Lee and associates Mary Daniel Morgan and Kenneth Strain.
