BB&T Serves as Co-Manager for Great Western Petroleum's $300 Million Offering of 9.00% Senior Notes due 2021
On September 15, 2016, BB&T Capital Markets served as a co-manager for a $300 million offering of 9.00% senior notes due 2021 by Great Western Petroleum and Great Western Finance Corp.
The net proceeds from this offering will be used to repay in full their term loan credit facility, approximately $183 million to pay down all borrowings outstanding under the company’s revolving credit facility and the remaining net proceeds for general corporate purposes.
About the Companies
Great Western Oil and Gas Company is an affiliate of The Broe Group of companies headquartered in Denver, Colorado. They have 1,500 acres of undeveloped land and are focused on low-to-medium risk development and exploitation opportunities in oil/liquids weighted, as well as established hydrocarbon provinces.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.