Baytex Energy Corp. Closes $1.5B Financing

Baytex Energy Corp. closed the public offering of its bought-deal subscription receipt financing.

The financing was completed in connection with its proposed acquisition of Aurora Oil & Gas Limited for $2.6 billion. Baytex issued 38,433,000 subscription receipts at a price of $38.90 per subscription receipt for aggregate gross proceeds of approximately $1.5 billion.

Baytex was represented by Murray Desrosiers, Vice President, General Counsel and Corporate Secretary of Baytex, and by Burnet, Duckworth & Palmer LLP with a team including Grant Zawalsky, Shannon Gangl, Alyson Goldman, Lindsay Cox and Sylvie Welsh (securities); John Wilmot, Nancy Smith and Andrew Kuzma (banking) and Heather Digregorio and Elizabeth McCarthy (tax). Baytex was represented in the US by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team including Andrew Foley, Steve Centa, Alexis Fink, Christodoulos Kaoutzanis and Amanda Melvin (corporate); David Mayo and Robert Killip (tax) and Bill O'Brien (environmental).

The syndicate of underwriters, co-led by Scotiabank and RBC Capital Markets, were represented in Canada by McCarthy T├ętrault LLP with a team including John Osler, Mark Franko, Wilson Acton and Jeremy Busch-Howell (securities) and Robert Nearing (tax); and in the US by Vinson & Elkins LLP with a team including Jim Prince, Adam Law and Clinton Smith.

Lawyer(s)

Heather DiGregorio Shannon M. Gangl Lindsay P. Cox John A. Wilmot Murray J. Desrosiers Robert W. Nearing Wilson Acton Grant A. Zawalsky Nancy D. Smith Alyson F. Goldman John S. Osler

Firm(s)

Burnet, Duckworth & Palmer LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP McCarthy Tétrault LLP Vinson & Elkins LLP