Callon Petroleum to redeem its 6¼% senior notes due 2023

By Rebecca Melvin

Concord, N.H., June 21 – Callon Petroleum Co. plans to redeem all of its $542.7 million outstanding of 6¼% senior notes due 2023 with the proceeds of a new notes issue, according to a company news release.

The company is planning to offer $650 million of new notes due 2028. BofA Securities Inc. (lead left), Citigroup Global Markets Inc., PNC Capital Markets LLC, Capital One Securities Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities LLC are joint bookrunners for the new Rule 144A deal.

Any remaining proceeds after the repurchase of the notes will be used to partially repay amounts outstanding under the company’s senior secured revolving credit facility.

Callon Petroleum is a Houston-based oil and natural gas company.

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