25 June 2020capital raising announcement● NeutralMajor
On June 19, 2020, Talos agreed to buy oil and gas properties from affiliates of Castex Energy 2005, paying partly with about 4.95 million new Talos shares. On the same day it amended its JPMorgan-led credit facility: the borrowing base fell from $1.15 billion to $985 million (with a possible further cut of up to $60 million if the deal does not close by the outside date), interest margins rose 0.25%, and new hedging and anti-cash-hoarding terms were added.