| Issuer / Guarantor | Sable Offshore Corp |
|---|---|
| Size | USD 345mn |
| Type | Convertible |
| Leads | JP Morgan |
| Maturity | 01 Jul 2031 (5 years) |
| Coupon | 6.5% (6 - 6.5%) |
| Premium | 30% (30 - 35%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | 3yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | 130% to Mar 2031 (4.7 yrs) |
| Announced | 30 Jun 2026 |