Sanchez Energy Corp. (NYSE: SN) opened a buyback, the company said June 20. It offered an exchange, of up to $600 million in aggregate principal amount, of new 7.75% senior notes due 2021, the company said.
Sanchez said the new notes, which were registered under the Securities Act of 1933, will be exchanged for an equal amount of outstanding identical notes that were not registered under the Act.
The company will not receive proceeds, Sanchez said.
The offer is scheduled to close July 18, the company said.
Houston-based Sanchez Energy ...