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BKV Corporation ("BKV" or the "Company") (NYSE:BKV) today announced that BKV Upstream Midstream, LLC (the "Issuer"), a wholly owned subsidiary of BKV, has priced, at par, its private offering (the "BKV 2030 Notes Offering") of $500 million aggregate principal of 7.500% senior notes due 2030 (the "BKV 2030 Notes"). The BKV 2030 Notes Offering is expected to close on or about September 26, 2025, subject to customary closing conditions.
The Issuer intends to use the net proceeds from the BKV 2030 Notes Offering to fund the cash portion of the purchase price of the previously announced acquisition of Bedrock Production, LLC (the "Bedrock Acquisition"), to fund the repayment of a portion of the outstanding borrowings under the RBL Credit Agreement and to pay fees and expenses related to the offering. Any excess proceeds will be used for general corporate purposes. The BKV 2030 Notes Offering is not contingent on the closing of the Bedrock Acquisition. However, if (i) the Bedrock Acquisition has not been completed on or prior to November 1, 2025 or (ii) at any time prior to November 1, 2025, the Membership Interest Purchase Agreement, dated August 7, 2025, among the Issuer, the Company and Bedrock Energy Partners, LLC, is terminated, the BKV 2030 Notes will be subject to a special mandatory redemption at a price equal to 100% of the initial issue price of the notes to be redeemed plus accrued and unpaid interest to, but excluding, the special mandatory redemption date.
Posted In: BKV
