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Idex places $200 million, Synergy wraps $80 million 9% notes, LTC to issue $40 million notes
By Lisa Kerner
Charlotte, N.C., June 14 – Idex Corp. privately placed $200 million of senior notes with institutional investors, according to a news release.
The notes will be issued as $100 million of 3.20% series A senior notes due 2023 and $100 million of 3.37% series B senior notes due 2025.
Proceeds will be used to reduce outstanding borrowings under the company’s revolving credit facility and for other general corporate purposes.
The Lake Forest, Ill.-based applied solutions company specializes in fluid and metering technologies; health and science technologies; and fire, safety and other diversified products.
Synergy Resources Corp. entered into a note purchase agreement under which it sold $80 million of 9% senior unsecured notes due 2021 to MTP Energy Master Fund Ltd. and GSO Capital Partners LP, according to an 8-K filing with the Securities and Exchange Commission.
Proceeds will be used to help fund Synergy’s $505 million purchase of Wattenberg Field oil and gas properties from Noble Energy, Inc., NBL Energy Royalties, Inc. and Noble Energy Wyco, LLC and for general corporate purposes.
Credit Suisse Securities (USA) LLC, KeyBank Capital Markets Inc. and SunTrust Robinson Humphrey Inc. were the placement agents.
Synergy is a Platteville, Colo.-based oil and natural gas exploration and production company.
LTC Properties, Inc. agreed to sell $40 million of 3.99% senior unsecured notes due 2031 to an insurance company under a private shelf agreement, according to a news release.
The company anticipates selling the notes on or about July 20.
The average life of the notes is 10 years.
LTC is a Westlake Village, Calif.-based real estate investment trust.
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