The company intends to use a portion of the proceeds to fund its pending acquisition of Grayson Mill

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the SEC-registered offering of $1.25 billion aggregate principal amount of 5.200% notes due 2034 and $1 billion aggregate principal amount of 5.750% notes due 2054 by Devon Energy Corporation.  Devon Energy intends to use a portion of the net proceeds from the sale of the notes to fund its pending acquisition of Grayson Mill.

Devon Energy is a leading oil and gas producer in the United States with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations.

The Davis Polk capital markets team included partners Stephen A. Byeff and Byron B. Rooney and associates Kanger Jin and Ryan Mainous. The tax team included counsel Yixuan Long and associates Michelle Zhao and Carter Ballentine Allison. The environmental team included counsel Michael Comstock and associate Shefain Islam. All members of the Davis Polk team are based in the New York office.

Copy link to share post