Callon Petroleum will acquire Carrizo in an all-stock transaction valued at $3.2 billion. J.P. Morgan and Bank of America Merrill Lynch provided underwritten financing to Callon to support the transaction
Callon Petroleum announced the borrowing base under its revolver was increased to $300 million following its lenders’ redetermination process. The Royal Bank of Canada served as administrative agent for the lender group.
Callon Petroleum announced the closing of an amended $500 million revolver and a new $125 million senior secured second lien term loan facility. JPMorgan Chase acted as administrative agent.