Deals this week: TransCanada, Anadarko Petroleum, Lukoil
TransCanada Corporation intends to raise $2.38bn through the issue of 54.75 million shares in a bought-deal public offering.
The underwriters, including TD Securities, BMO Nesbitt Burns and RBC Dominion Securities, have been granted a 30-day option to acquire up to an additional 5.47 million shares.
TransCanada has retained Blake, Cassels & Graydon, Mayer Brown and Norton Rose Fulbright Canada as legal advisors for the offering, which is scheduled for completion on 16 November.
The proceeds from the offering are intended to be used by the company to partly fund the acquisition of Columbia Pipeline Partners, and for the partial repayment of the Columbia acquisition bridge loan facilities.
Anadarko Petroleum Corporation has agreed to dispose Carthage field in east Texas, US, for a consideration of more than $1bn.
The field extends across an area of 105,000 net acres in Rusk, Harrison and Panola counties, Texas, and produced 40,000 barrels of oil equivalent per day during the third quarter of this year.
The transaction is part of Anadarko’s divestment plan and is scheduled for completion by the end of this year.
Lukoil Oil Company, through its subsidiary Lukoil International Finance, has raised $1bn through the issue of 4.75% notes in a private placement.
The notes will pay interest on a semi-annual basis until their maturity on 2 November 2026.
Lukoil has retained Citigroup and JPMorgan Chase as joint book-running managers, and Akin Gump Strauss Hauer & Feld and Van Doorne as legal advisors for the offering.
Sequel Energy Group has secured a commitment from GSO Capital Partners, a credit investment platform of The Blackstone Group, for an equity investment of more than $500m.
The investiture enables Sequel Energy to invest in non-operated oil and gas working interests in proven prospects in North America.
EQT Midstream Partners has announced the pricing of a public issue of 4.125% senior notes. The semi-annually payable notes will mature in December 2026. The company plans to raise $500m from the offering.
EQT has retained CIBC World Markets and The Huntington Investment Company as underwriters and Baker Botts as the legal advisor for the offering, which is scheduled for closure on 4 November.
The amount raised from the issue is intended to be used by the company to repay the outstanding balance of its credit facility and for general corporate purposes.