EnVen Energy $300 million high-yield notes offering and credit facility amendment
Davis Polk advised EnVen Energy Corporation (“EnVen”) in connection with a Rule 144A / Regulation S offering of $300 million aggregate principal amount of its 11.750% senior secured second lien notes due 2026 through its subsidiaries Energy Ventures GoM LLC and EnVen Finance Corporation. The notes are guaranteed on a senior secured second-priority basis by EnVen and EnVen’s domestic subsidiaries that guarantee EnVen’s first lien revolving credit facility.
In connection to the notes offering, Davis Polk also advised EnVen in connection with amending its first lien revolving credit facility.
EnVen is a leading independent deepwater exploration and production operator in the Gulf of Mexico, headquartered in Houston, Texas.
The Davis Polk capital markets team included partners Richard D. Truesdell Jr. and Byron B. Rooney and associates Chris Van Buren and Nicolas E. Biggio. The finance team included partner Joseph P. Hadley and associate Esam Ibrahim. Partner Po Sit and associate Liang Zhang provided tax advice. Counsel David A. Zilberberg provided environmental advice. Associate Sijia Cai provided Investment Company Act of 1940 advice. Members of the Davis Polk team are based in the New York and London offices.