BofA Merrill Raising $300M for Oil and Gas Private Placement
BofA Merrill Raising $300M for Oil and Gas Producer Concho Resources
Bank of America Merrill Lynch is arranging a $300 million private placement via private placement memorandum of common stock via Regulation D for Concho Resources to help finance the oil and gas producer’s acquisition of assets from privately held Marbob Energy.
Midland, Texas-based Concho is paying $1.65 billion in cash and securities via private placement for Marbob’s oil and gas properties, which are mainly located in the Permian Basin region of southeastern New Mexico. Some of Marbob’s properties are adjacent to Concho’s properties in the Permian Basin.
In the private placement, Concho is issuing 6.6 million shares of common stock priced at $45.45 each via Regulation D, reflecting a 14.7% discount to the price where Concho shares closed yesterday. The offering represents a 6.1% stake in Concho.
This is at least the second PIPE by Concho. In July 2008, the company raised $250 million in a common stock private placement offering.
Investors in the current private placement are being advised by the law firm of Vinson & Elkins. Concho didn’t immediately identify the investors.
Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.
PPM’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.
We are leaders in:
• New York Private Placement
• Real Estate Private Placement
• Oil and Gas Private Placement
• Debt Private Placement
• Equity Private Placement
• Oil, Gas, Power Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
• Real Estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing