DENVER--(BUSINESS WIRE)--Raisa Energy LLC (“Raisa” or “the Company”) today announced that it successfully closed its third securitization of proved developed producing (“PDP”) wellbores for $636 million of gross proceeds (“the Transaction” or “the Offering”).
The Transaction represents the inaugural issuance within Raisa’s Second Master Trust Program and the largest and most diversified securitization Raisa has closed thus far, with assets consisting of 9,000+ wellbores under 50+ operators, located in 30+ counties across six states. Raisa has again received the highest investment grade ratings assigned to a PDP oil and gas securitization by Fitch Ratings and remains the only oil and gas asset backed security (ABS) issuer to do so.
The Company achieved several milestones with this issuance, including 14 investors who participated in the Offering, several of which were new investors to the Raisa ABS platform, giving this private PDP ABS transaction the broadest investor base to date.
“We want to thank our ABS investors for their resounding vote of confidence in our platform,” said Raisa Executive Vice President of Business Development, Babak Fadaiepour. “We believe this is a clear demonstration of investors’ appreciation for the superior diversification offered by Raisa’s differentiated non-operated aggregation strategy. The closing of our third securitization represents the consummation of the incredible dedication from our talented team and is a critical step forward in the scaling of our business.”
Barclays Capital, Inc. served as Lead Structuring Advisor and Joint Lead Placement Agent, Cantor Fitzgerald & Co. served as Co-Structuring Advisor and Joint Lead Placement Agent, and Wells Fargo Securities, LLC served as Co-Placement Agent.
About Raisa Energy
Raisa Energy is an international fintech company that uses proprietary technologies to invest in real assets in the United States. Raisa has built a diversified portfolio of oil and gas mineral and non-operated working interests, with over $2.5 billion of assets under management. For more information, please visit www.raisaenergy.com.