Sundance Energy is raising $331 million through a placement and accelerated non-renounceable entitlement offer to fund the acquisition of shale gas assets in the United States.
Joint lead managers on the deal are Euroz Securities and Morgans and Aitken Murray Capital is co-lead manager.
The raising includes a $257m two tranche placement and a $74m accelerated non-renounceable entitlement offer.
Shares (SEA) are being sold at 5.9c each, which is an 18.6 per cent discount to the last traded price.
The funds will be used to fund the acquisition by Sundance of certain Eagle Ford Shale properties from Pioneer Natural Resources in the United States, Reliance Eagle Ford Upstream Holdings and Newpek.
Sundance is also proposing to refinance debt including a new syndicated institutional second lien term loan to raise $250m and a new syndicated reserve based lending facility with$US75.5m of undrawn capacity.
https://www.theaustralian.com.au/bu...s/news-story/b86e32d5eb5edc944346c5aa2b145e82
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