Legal DealFolio - Linc Energy Offering of Senior Secured Notes due 2017

DLA Piper advised long term client Linc Energy Ltd. (Company) on the successful offering of USD125 million 9.625% due-2017 first-lien senior secured Notes. The notes were issued by the Company's wholly owned subsidiaries Linc USA GP and Linc Energy Finance (USA) (Issuers), through which the company is engaged in the production, development, exploitation and acquisition of crude oil and gas producing properties in the United States. The Notes bear interest at 9.625% per annum, payable semi-annually, and are due in 2017. The issue was part of a significant structuring of the Issuers' debt, and the transaction involved a pay-down of first lien debt of the Issuers, and replacement of their first lien credit facilities with the Notes. The Notes are secured by first priority liens on the Issuers' U.S. based oil and gas assets, and rank senior to the Issuers existing 12.5% senior secured notes that were issued in 2012. In addition to repaying debt, the proceeds of the fund raising will enable the Company to undertake a Gulf Coast drilling program focused on its extensive inventory of new well targets and low cost recompletions to increase production and cash flows. The DLA Piper team was led by Stephen Peepels in Hong Kong, with support of Steven Weerts (Tax) in Los Angeles, Tony Lopez (Finance and Projects) in London, and Glenn Reitman (Corporate and Securities) in Houston.

Deal Date:	14-08-2014	Practice Area:	Debt Capital Markets
Deal Title:	Linc Energy Offering of Senior Secured Notes due 2017	Industry:	Oil & Gas Producers
Description:	DLA Piper advised long term client Linc Energy Ltd. (Company) on the successful offering of USD125 million 9.625% due-2017 first-lien senior secured Notes. The notes were issued by the Company's wholly owned subsidiaries Linc USA GP and Linc Energy Finance (USA) (Issuers), through which the company is engaged in the production, development, exploitation and acquisition of crude oil and gas producing properties in the United States. The Notes bear interest at 9.625% per annum, payable semi-annually, and are due in 2017. The issue was part of a significant structuring of the Issuers' debt, and the transaction involved a pay-down of first lien debt of the Issuers, and replacement of their first lien credit facilities with the Notes. The Notes are secured by first priority liens on the Issuers' U.S. based oil and gas assets, and rank senior to the Issuers existing 12.5% senior secured notes that were issued in 2012. In addition to repaying debt, the proceeds of the fund raising will enable the Company to undertake a Gulf Coast drilling program focused on its extensive inventory of new well targets and low cost recompletions to increase production and cash flows. The DLA Piper team was led by Stephen Peepels in Hong Kong, with support of Steven Weerts (Tax) in Los Angeles, Tony Lopez (Finance and Projects) in London, and Glenn Reitman (Corporate and Securities) in Houston.
Financial Center:	Hong Kong	Value:	100.01-500.00
Advised Party:	Issuer	Law Firm	DLA Piper
Issuer Jurisdiction	United States	Listing Jurisdiction	United States
Classification:	Corporate Bonds Senior Debt	Lawyer	Stephen Peeples

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Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers