Saturn Oil & Gas Inc. announced the successful completion of a CA$525 million acquisition of oil-weighted assets in southern Saskatchewan on June 14, 2024. The deal was primarily funded through the proceeds from a 9.625% high-yield note offering, in addition to a CA$100 million bought deal subscription receipt financing. To further underpin the acquisition, Saturn secured a CA$150 million reserves-based lending (RBL) facility led by National Bank of Canada, with ATB Financial and Goldman Sachs Bank USA participating. Legal counsel for Saturn was provided by a multi-practice team from Dentons, which continues to be a leading advisor in the oil and gas industry for both Canadian and global companies.

Energy, Legal Services, Financial Services,Canada, United States

https://www.dentons.com/en/about-dentons/news-events-and-awards/news/2024/june/dentons-canada-advises-saturn-oil-and-gas-inc-on-transformational-saskatchewan-asset-acquisition