Neopost places $90 million of debt in U.S. market; Arabella arranges $45 million placement

By Lisa Kerner

Charlotte, N.C., Sept. 4 – Neopost SA said it issued $90 million of senior debt to a single investor in the U.S. market.

The placement has a maturity of between six and eight years and a variable rate of Libor plus 175 basis points, according to a company news release.

Proceeds will be used for the early repayment of the $90 million Schuldschein private placement maturing in 2016.

Credit Agricole CIB acted as agent for the transaction.

Paris-based Neopost is a manufacturer of postage meters and mailroom equipment.

Arabella Exploration, Inc. arranged a $45 million senior secured note facility with a single investor, according to a press release.

The company issued $16 million of the notes on Tuesday and expects to sell an additional $5 million of notes in the next 60 days. It may sell the remaining notes in tranches until Sept. 2, 2015.

The 15% notes mature one year after issuance.

The investor also received warrants for 1.3 million shares exercisable at $5.00.

Proceeds will be used to reduce payables and provide working capital for development, drilling and completion of the company’s wells in the Southern Delaware Basin.

The oil and gas exploration and production company is based in Midland, Texas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.