January 19, 2021
MEG Energy Corp. (MEG) announced that it has priced a private offering of US$600 million in aggregate principal amount of its 5.875% senior unsecured notes due 2029 (the Notes). The sale of the Notes is expected to settle on February 2, 2020, subject to the satisfaction of customary conditions. MEG intends to use the net proceeds of the offering, together with cash on hand, to redeem in full its outstanding 7% senior unsecured notes due March 2024 and to pay fees and expenses related to the offering.
Latham & Watkins LLP represents MEG Energy Corp. in the offering with a Houston-based corporate team led by partners David Miller and Trevor Lavelle, with associates Monica White, Erin Lee, Sam Bentley, Ricky Alvarado and Anji Yuan. Advice was also provided on finance matters by New York partner Joshua Tinkelman and Chicago counsel Cindy Caillavet; on tax matters by New York partner Jiyeon Lee-Lim, with associate Aaron Bernstein; and on environmental matters by Los Angeles counsel Joshua Marnitz.