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Latham, V&E Advise on Gastar’s $425M Capital Financing

© 2017 The Texas Lawbook.

By Natalie Posgate

(Feb. 18) – Houston E&P company Gastar Exploration said Friday that it has secured $425 million in new financing from funds managed by affiliates of Ares Management, a Los Angeles-based investment firm.

The financing is comprised of a $250 million secured term loan, $125 million in secured convertible notes and an issue of $50 million in common stock. Gastar will use the money to repay its existing $70 million revolving credit facility and redeem its $325 million senior secured notes that are due in May 2018.

Mark Curriden

Mark Curriden is a lawyer/journalist and founder of The Texas Lawbook. In addition, he is a contributing legal correspondent for The Dallas Morning News.

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