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Laredo Petroleum Raises $350M
Laredo Petroleum has raised $350 million in a sale of senior unsecured notes to eligible purchasers in the private placement market.
Laredo Petroleumhas raised $350 million in a sale of senior unsecured notes to eligible purchasers in the private placement market. The oil and gas exploration and production company appointedBank of America Merrill Lynch,JP MorganandWells Fargo Securitiesas joint book running managers for the deal.
The notes carry a coupon rate of 9.5% and are due to mature on Feb. 15, 2019. The company intends to use the net proceeds to repay in full and retire its term loan facility, to pay down all loan amounts outstanding under its senior secured credit facility and for general working capital purposes.
Click here for the release fromPR Newswire.