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Mississippi Resources Closes $55.5MM Investment From TPG Specialty Lending

July 18, 2014, 07:24 AM
Filed Under: Energy

Mississippi Resources, LLC ("MSR" or the "Company") announced that it closed a senior debt and preferred equity investment with TPG Specialty Lending, Inc. for a maximum amount of $55.5 million.  The funds will be used to retire debt, buy out preferred equity outstanding and for working capital to fund the company's development plan, and to acquire additional acreage adjacent to the existing lease holdings.

In connection with the transaction, KLR Group, LLC acted as exclusive advisor to Mississippi Resources.

Keith Gourgues, CEO of Mississippi Resources, commented, "I am pleased to announce TSL's recent capital infusion into our Company.  TSL has an outstanding track record of investing in and building businesses. We are looking forward to partnering with them and growing our business over the next few years."

Mississippi Resources, LLC is an independent exploration and production company focused on conventional oil development in Mississippi and Alabama. MSR has a working interest in over 60 wells, and approximately 25,000 net acres of leasehold.  The company is based in Metairie, LA.  For additional information concerning Mississippi Resources, LLC visit www.miss-resources.com.

TSL is a specialty finance company focused on lending to middle-market companies. TSL seeks to generate current income primarily in U.S.-domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine loans and investments in corporate bonds and equity securities.





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