Latham Advises Talos Energy’s US$800 Million Offering of Senior Secured Notes

Talos Energy Inc. (Talos) (NYSE: TALO) has announced that Talos Production Inc. (the issuer), a wholly owned subsidiary of Talos, has priced an offering of US$800 million in aggregate principal amount of new 8.000% second-priority senior secured notes due 2034. The company intends to use the net proceeds from the offering to (i) fund a portion of the cash consideration for the Talos's recently announced pending Gulf of America acquisition, (ii) fund the redemption of all of the issuer’s outstanding 9.000% second-priority senior secured notes due 2029, and (iii) pay related fees and expenses. 

Latham & Watkins LLP advised the initial purchasers on the transaction with a corporate deal team led by Austin/Houston partner David Miller, Houston partner Ryan Maierson, and Austin partner Sam Rettew, with associates Connor Adams, Don Izekor, Nicholas Blake, and Madhavi Nambiar. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Chris Garza; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Jacqueline Zhang; on regulatory matters by Washington, D.C. partner Janice Schneider; on finance matters by Houston partner Craig Kornreich and counsel Natalie McFarland, with associate Joanna Zhao; and on employment and benefits matters by Washington, D.C. partner David Della Rocca.