Latham & Watkins represented Baytex in Upsized Offering of $800 Million Senior Note

Latham & Watkins represented Baytex in Upsized Offering of $800 Million Senior Note

Latham & Watkins LLP advised the initial purchasers in the upsize and pricing of Baytex Energy Corp.'s previously announced private offering of senior unsecured notes due 2030, now totalling US $800 million.

The Notes will have an interest rate of 8.5 per cent per annum and mature on April 30, 2030. Priced at 98.709 per cent of par, they will yield 8.75 per cent per annum.

The offering's closing is subject to customary conditions and is expected to occur on April 27, 2023.

The corporate deal team was led by the firm’s Austin partners David Miller and Samuel Rettew, with Houston associate Michael Pascual, Austin associates Brian Golde, Manu Vadlamudi, and Houston associate Justin Reinking.

Additionally, advice on tax matters was provided by Houston partner Bryant Lee, with Houston associates Dylan White and Molly Elkins, and on environmental matters by Houston partner Joshua Marnitz, with Washington, D.C. associate Andy Landolfi.