Sabine Oil and Gas Corp fka SOGCQ

[TESLA777]

Sabine Oil Merger and Assets:

http://www.sabineoil.com/assets/Forest-Oil-Sabine-Merger-Presentation-FINAL1.pdf

The Forest Oil Bonds were addressed on page 13....these guys have a credit facility and also may have to issue new bonds, this is a multi-billion dollar company though that still needs some time to consolidate...

Financing Highlights

» New RBL facility
» Assumes Sabine’s 2nd lien and bonds remain in
place
• Will monitor markets to opportunistically
refinance all or a portion of these
» Forest bonds subject to change of control put at
101; if put, issue new Senior Notes (or use cash or
RBL) for put amount but plan to tender for bonds
with newly issued Senior Notes (and/or cash or
RBL) at closing or amend bonds to remove change
of control put
» Committed bridge facility backstops funds for
change of control put or debt tender if new Senior
Notes issuance is unsuccessful
» The combined company will pursue portfolio
rationalization and debt reduction over the next
twelve months
• Will aggressively but prudently evaluate
accretive divestment opportunities — To allow optimization of capital
allocation — To increase liquidity and de-lever
balance sheet