Baytex Energy Closes $500 Million Senior Notes Offering

Paul, Weiss advised Canadian oil and gas company Baytex Energy Corp. in its $500 million private placement offering of 8.750% senior notes due 2027. The initial purchasers for the offering were led by RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Barclays Capital Inc. Baytex, listed on the TSX and NYSE, intends to use the net proceeds of the offering to redeem certain long-term indebtedness.

The Paul, Weiss team included corporate partner Andrew Foley and counsel Stephen Centa; tax partner David Mayo; employee benefits counsel Lauri Penn; and environmental counsel William O’Brien.