Daily News: July 18, 2014

TSL Provides MSR Senior Debt Investment

Mississippi Resources announced it closed a senior debt and preferred equity investment with TPG Specialty Lending for a maximum amount of $55.5 million. The funds will be used to retire debt, buy out preferred equity outstanding and for working capital to fund the company’s development plan, as well as to acquire additional acreage adjacent to the existing lease holdings.

In connection with the transaction, KLR Group acted as exclusive advisor to Mississippi Resources.

Keith Gourgues, CEO of Mississippi Resources, commented, “I am pleased to announce TSL’s recent capital infusion into our Company. TSL has an outstanding track record of investing in and building businesses. We are looking forward to partnering with them and growing our business over the next few years.”

Mississippi Resources is an independent exploration and production company focused on conventional oil development in Mississippi and Alabama.